One of my customers has recently purchased a VPS for their website. My Linux VPS is on WebFusion, theirs is on EasySpace.
Now unfortunately EasySpace seem to bugger off at 5pm so I had to rely on Google and hope that some of the Linux boys and girls out there were writing in an intelligible way.
Thankfully for me, I was not let down.
My first source was the AtomiCorp wiki: http://www.atomicorp.com/wiki/index.php/PHP
Then I ran into a little problem with a "dummy" library causing my "yum" to fail. Similar except here: http://languor.us/error-missing-dependency-glibc-common-2-3-4-2-25-needed-package-glibc-dummy-centos-4
With that removed (on account of it being labelled somethink like xxxxxx-dummy-centos-4) I re-ran the update and succesfully upgraded to PHP 5.2.6
All seems fine (including Plesk) although I expect the packages in Plesk might be out of synch so I'll need to remember the method in case I have to re-install the VPS anytime soon.