[fedora-arm] ARM Environment too slow for build

Hi all, In order to build OS and some other packages for XO laptop ( ARMv7 architecture compatible ), I am doing virtualization through QEMU using Versatile Express. I have a Dell PowerEdge (2 core with 3GB RAM) which I consider is moderately fast machine. but inside VM I am only getting 1 CPU and 1GB RAM and build process is very very slow. It takes more than 6 hours to build the OS, right now I am building firefox and god know how long it will take. Is there a way I can make it faster?I wonder what people are using in similar cases. Please suggest. Regards, Basanta