I have both python2.7 and python3.2 installed in Ubuntu 12.04.
The symbolic link python links to python2.7
Although the question relates to Ubuntu, let me contribute by saying that I'm on Mac and my python command defaults to Python 2.7.5. I have Python 3 as well, accessible via python3, so knowing the pip package origin, I just downloaded it and issued sudo python3 setup.py install against it and, surely enough, only Python 3 has now this module inside its site packages. Hope this helps a wandering Mac-stranger.