LiveCycle works fine in a virrual environment, I have installed it several time for production use in VMs. I typically use VMWare for production, but I've also intalled it on Virtual Box for local development use.
Hardware is abstracted in a VM environement anyway so no specific hardware is required. However, keep in mind that LiveCycle requires a lot of memory so you need enough memory on the server to be able to allocate at least 4 gigs to the virtual machine running LiveCycle so the underlying server hosting the VM is going to need more than 4 gigs.
I haven't seen any VM specific documentation. However, the instructions are not any different. You just need to ensure the OS installed on the virtual machine is supported by LiveCycle.