found this link
http://calibre.kovidgoyal.net/ticket/2571 (reopened) - will give a try.
O.K. at this point I have upgraded to Fedora 11, confirmed all dependencies, installed sip-devel, wget, PyQt4, PyQt4-devel, python-setuptools.noarch, python.setuptools-devel.noarch.
..and now this - gcc -pthread -fno-strict-aliasing -DNDEBUG -O2 -g -pipe -Wall -Wp,-D_FORTIFY_SOURCE=2 -fexceptions -fstack-protector --param=ssp-buffer-size=4 -m64 -mtune=generic -D_GNU_SOURCE -fPIC -fPIC -Isrc/calibre/utils/lzx -I/usr/include/python2.6 -c src/calibre/utils/lzx/lzxmodule.c -o build/temp.linux-x86_64-2.6/src/calibre/utils/lzx/lzxmodule.o
unable to execute gcc: No such file or directory
error: command 'gcc' failed with exit status 1.
Not sure what else to do or try, any help would be greatly appreciated.