Though Skype for Linux tremendously lags behind in development from its Windows and Mac counterparts it was recently added to the Ubuntu repository, Canonical Partner Repositories to be precise.
The partner repositories offer access to proprietary and closed-source software and are not enabled by default in Ubuntu 10.04, you’ll have to enable them in the Software Sources manager at System -> Administration, under the “Other Software” tab formerly known as “Third-Party Software”.
Skype had long declared that an open source version of the Linux client was being developed -- not exactly the same thing as the Skype code itself becoming open source.
After ticking the first two check boxes in the “Other software” tab to enable the partner repositories, hit “Close” then “Reload” and then “Close”. Now Launch the Ubuntu Software Center in Applications menu and search for skype. Hit “Install” to get it rolling. Run Skype, Applications -> Internet -> Skype.
Skype 2.1 Beta 2 is the latest version of Skype, see complete features Here.