Assuming you have the guest additions... You can get an approximate full screen across 2 monitors if you edit your xorg.conf file (I run FC11... I'm not sure if ubuntu uses xorg.conf?) and then just manually stretch the window to fill both. This definitely isnt ideal, but it does get you more visible desktop space.
I have two monitors in windows they run at 1440x900 and 1280x1024 respectively. The setup below allows a max screen size of 32000x32000.
You then just have to change the display and drag it out.
---------------/etc/X11/xorg.conf----------------------------------
Default xorg.conf for Xorg 1.5+ without PCI_TXT_IDS_PATH enabled.
#
# This file was created by VirtualBox Additions installer as it
# was unable to find any existing configuration file for X.
Section "Device"
Identifier "Configured Video Device"
Driver "vboxvideo"
EndSection
Section "Screen"
Identifier "Default Screen"
Monitor "Generic Monitor"
Device "VirtualBox graphics card"
DefaultDepth 24
SubSection "Display"
Depth 24
Modes "1440x900" "1280x1024" "2720x1024"
EndSubSection
EndSection
---------------------------