Go to 8GB on your notebook for ~$350

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Some vendors have started shipping DDR2-5300 memory that provides 667Mhz 4GB SODIMMs for you notebook.  You will need a notebook that has a SantaRosa chipset to be able to access all 8GB and even then the BIOS has to support it.

I personally purchased 8GB G.Skill memory from newegg.com for $170 per chip.  I have tested the memory in a Lenovo T61P and a Dell Latitude 830 with no issues.  I did have an issue with a Dell Inspiron 1420.  It does not recognize both 4GB chips when installed and does not finish the boot process.  It does support a 4GB and a 2GB module for 6GB RAM.

So for about $350 you can upgrade your compatible notebook to 8GB RAM.

Hope this helps you run more VMs on your notebook.  :-)