Comment 12 for bug 664206

Default lubuntu oneiric installation contains this package and there is pam_gnome_keyring in /etc/pam.d/lxdm, so, that's not the case. But your words remind me to look into /var/log/auth.log, and that's what I see there:

gnome-keyring-daemon[1498]: couldn't set environment variable in session: The name org.gnome.SessionManager was not provided by any .service files

After quick googling I found theese bugs related to this issue:
https://bugs.launchpad.net/ubuntu/+source/gnome-keyring/+bug/344014
https://bugs.launchpad.net/ubuntu/+source/gnome-keyring/+bug/344444
https://bugs.launchpad.net/ubuntu/+source/xfce4-session/+bug/357346
https://bugs.launchpad.net/ubuntu/+source/xfce4-session/+bug/564831

They are mostly about xfce-session. So, it seems lxsession has exactly the same problems.

Here is the patch to startlubuntu script that solves the problem. If it's considered that lubuntu contains gnome-keyring by default, this patch seems to be sufficient.