random bit of "works for me" info to add to Tim's.
Also an x120e:
$ lsmod | grep kvm
kvm_amd                59717  0 
kvm                   443165  1 kvm_amd
$ uname -r
3.8.0-27-generic
$ grep 350 /proc/cpuinfo 
model name      : AMD E-350 Processor
model name      : AMD E-350 Processor

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https://bugs.launchpad.net/bugs/1201092

Title:
  Cannot load kvm_amd module - (says disabled by bios)

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