VM as dev environment?

We use openwrt as the foundation for our router software. Personally I use ubuntu for my dev machines. Problem is nearly every ubuntu upgrade breaks the machine requiring full reinstall. Its has happended enough times to be an actual issue. Im thinking of using VM so i can have easy backup before upgrading. Just wondering if others do this and what their expierence has been like? Pros and cons Thanks PS posting on phone apologies for spelling