Having installed the ARM tools TAR package from CodeSourcery on a Ubuntu 11.04 (GNU/Linux 2.6.38-8-server x86_64) running in VirtualBox I encountered this error:
root@armkernel:~# arm-none-linux-gnueabi-gcc -bash: /root/gcc/arm-2011.03/bin/arm-none-linux-gnueabi-gcc: No such file or directory
Unfortunately searching online delivers lots of advice on how to set your PATH variable, but no actual solution.
Except for this post. So in the name of increasing that post's relevance rating I am linking to it here…
The fix for the problem is to install the ia32-libs package:
sudo apt-get install ia32-libs