What is virtual hosting?
This type of hosting is sometimes called shared hosting, and allows a webmaster to use small part of resources of a given server (shared server).
This server is shared with several other webmasters and each of them is allowed to use given share of server resources.
Opposed to dedicated hosting, webmasters doesn't have full control over the server, they cannot choose operating system, hardware, etc. And administration still relies on web hosting company.
Each hosting company offers various dedicated hosting plans, which differs in disk space available, data transfers, PHP and MySQL availability etc.
Some of good virtual / shared hosting plans are listed bellow:
QBEM Web Hosting - great Web Hosting starts at $2.95 per Month.