I had used VIO server for installing AIX on virtual machines.
I did a second copy of a LV (on VIO server) being used for AIX OS of some virtual system - after that I did splitlvcopy (possible but not recommended on open LV - so better is to stop for a while system having AIX running on that LV) and used that splitted copy for the other/new system.
you can also use "dd" but also recommended to stop "source" AIX system for that moment
# ls -al /dev/*vdisk1
crw-rw---- 1 root staff 36, 2 Oct 18 15:31 /dev/rvdisk1
brw-rw---- 1 root staff 36, 2 Oct 18 15:31 /dev/vdisk1
# dd if=/dev/rvdisk1 of=/dev/rvdisk1clone bs=8M
The same you can do if you are using whole disks on VIO server for VIO client's OS.
On standalone systems I did the following trick to have system installed quick:
on my P55A I inserted a disk from new machine, created third LV copies of rootvg's LV (mirrorvg -m -c 3 rootvg thedisk). Having quorum off (standard in mirrored rootvg) I got the disk with third copy and place it in new system. After that I had to remove from ODM all no longer accessible disks on both systems (missing disks). Thats all.
I strongly recommend to change rmc resource id on cloned host running the command after it is stated first time: /usr/sbin/rsct/install/bin/recfgct