Comment 0 for bug 921230

$ kvm -boot order=c /tmp/disk.img -curses

you'll see somthing like:
|
| SeaBIOS (version pre-0.6.3-20111117_190135-rothera)
|
| iPXE (http://ipxe.org) 00:03.0 C900 PCI2.10 PnP PMM+17FC94C0+17F894C0 C900
| Press Ctrl-B to configure iPXE (PCI 00:03.0)...

That sits there for 2 to 3 seconds (per NIC), and slows boot down
by that much.

You can work around this by:
$ ( rm -Rf x && mkdir x && cd x && ln -sf /usr/share/qemu-kvm/* . && rm pxe* )
$ kvm -boot order=c -L x -curses

which basically just makes kvm think there are no pxe boot roms, which would be found in /usr/share/qemu-kvm/ as provided by kvm-ipxe.

ProblemType: Bug
DistroRelease: Ubuntu 12.04
Package: kvm-ipxe 1.0.0+git-2.149b50-1ubuntu4
ProcVersionSignature: Ubuntu 3.2.0-10.17-generic 3.2.1
Uname: Linux 3.2.0-10-generic x86_64
ApportVersion: 1.91-0ubuntu1
Architecture: amd64
Date: Tue Jan 24 16:38:01 2012
Dependencies:

EcryptfsInUse: Yes
InstallationMedia: Ubuntu 11.10 "Oneiric Ocelot" - Release amd64 (20111012)
PackageArchitecture: all
ProcEnviron:
 PATH=(custom, user)
 LANG=en_US.UTF-8
 SHELL=/bin/bash
SourcePackage: ipxe
UpgradeStatus: Upgraded to precise on 2011-11-07 (78 days ago)