I recently wanted to update my gem bundle but ran into installation problems with libv8 (requirement for therubyracer):
Installing libv8 (3.3.10.3) with native ext
Ubuntu 12.04
gem 'libv8', '3.11.8.3' gem 'therubyracer', '0.11.0beta5'
Specifying the versions above solved my problem with therubyracer.
Also as someone above suggested, I used the latest bundler:
gem install bundler --pre