I'm looking for updated VLC builds for Lucid.
I was using c-korn, but it's gone.
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The PPA installable by
sudo add-apt-repository ppa:ferramroberto/vlc has been set up due to the demise of c-korn and contains 1.1.4 currently. (Maverick contains 1.1.3 at present.)
For your information and future reference I found this by going to the Launchpad vlc Ubuntu package page and clicking on "Other versions of 'vlc' in untrusted archives".
Reference: How to use PPAs
sudo add-apt-repository ppa:ferramroberto/vlc(contains 1.1.4) mentioned in the other answer.
This link will give you a PPA that has VLC 1.1.4. I installed from here and have had no problems.