At the moment I’m writing this, the official Ubuntu guide to installing PS3 Media Server suggests doing the following:

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sudo add-apt-repository ppa:happy-neko/ps3mediaserver
sudo apt-get update
sudo apt-get install ps3mediaserver

Unfortunately, the second step of this process fails, because the happy-neko/ps3mediaserver repository does not have the packages for trusty yet. Luckily, we can still use the packages for raring:

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sudo add-apt-repository ppa:happy-neko/ps3mediaserver
sudo sed -i s/trusty/raring/ /etc/apt/sources.list.d/happy-neko-ps3mediaserver-trusty.list
sudo apt-get update
sudo apt-get install ps3mediaserver

Et voilà! PS3 Media Server is installed.