so as to run it in VM
Why not use the SDK emulator? It has Android 5.0 images for Intel x86 and even x64 architectures.
Dowload the SDK from here and extract it to a folder you like. Now launch SDK Manager and add the Lollipop images.
You will also need Intel® Hardware Accelerated Execution Manager driver if you will be using the x86 emulator. Get it from here.
Go to the folder where you extracted the SDK archive, then from
sdk/tools folder launch via
cmd the virtual device manager. Type in
android avd. Create the x86 virtual device:
Maybe you should use the same amount of RAM as you selected when installed Intel HAXM driver.
Start the device from AVD Manager using the Start button.