From the VLC pages
Ubuntu Lucid Lynx 10.04 LTS
VLC version 1.0.6 in Ubuntu 10.04 is out-of-date. We recommend you install VLC 1.1.x manually.
If you wish to install VLC 1.0.6 anyway, please refer to the instructions above for Ubuntu 10.10. Note that there will be some bugs; you are on your own.
At your OWN risks, install VLC from PPA:
Command line way
% sudo add-apt-repository ppa:lucid-bleed/ppa
% sudo apt-get update
% sudo apt-get install vlc vlc-plugin-pulse mozilla-plugin-vlc