Update: Latest IEs4Linux package (version 2.99.0.1) is released with fixes for blank screen bug. This update is included in the post below.
Installing Internet Explorer for Linux distros is still not an easy thing to do, especially for the newer versions, say, IE7 or IE8. Firefox is an open source alternative which is not only a better web browser but also a more secure one as well. Mostly you will have to install IE in your linux machine for some testing purposes or because some sites dont show up properly in browsers other than IE. If that is the reason for you to install IE in Ubuntu, IEs4Linux is the way out.