OS X Lion: Upgrading from Mac OS X v10.6 does not work with software RAID; "An error occurred while preparing the installation. Try running this application again." appears

When upgrading a Mac OS X v10.6 Snow Leopard or Mac OS X Server v10.6 system to Lion, the following alert appears if the "Install Mac OS X Lion" application is opened from a software RAID volume:

"An error occurred while preparing the installation. Try running this application again."

If your Mac OS X v10.6 startup disk is a software RAID volume

Copy the "Install Mac OS X Lion" application from your Applications folder to another disk that is not part of a software RAID. You can use another internal volume (if one is available) or an external drive, such as a USB flash drive. Double click the copy of "Install Mac OS X Lion" on the non-RAID volume to start the installation.

If your Mac OS X v10.6 startup disk is not a software RAID volume

Verify that you are not attempting to use a copy of the "Install Mac OS X Lion" application that resides on a software RAID volume.