But I was not able to launch X. Instead I got
Fatal server error: [ 9491.484] could not open default font 'fixed' [ 9491.484] (EE) Please consult the CentOS support at http://wiki.centos.org/Documentation for help. (done) [ 9491.484] (EE) Please also check the log file at "/var/log/Xorg.0.log" for additional information.
To solve this,
# yum -y install libXfont