- Install LVM (yum -y install lvm2)
- Update initramfs image (in /boot run dracut -f initramfs-3.3.6-3.fc17.armv5tel.kirkwood.img 3.3.6-3.fc17.armv5tel.k
- Update uInitrd image (in /boot/uboot run mkimage -A arm -O linux -T ramdisk -C none -a 0 -e 0 -n initramfs -d /boot/ini
The easiest approach would be to do the above steps, the move the boot media to a another computer, and copy the root filesystem to a temporary file, delete the partition with the root filesystem, and add it to a volume group (as a PV) and create a LV and copy the root filesystem back. It sounds complicated but it's not.