These karaoke subtitles were created by a youtube user with Aegisub, and a great deal of patience!
VEVO Music Videos with Lyrics
Well, a year or so into it, VEVO does have SOME music videos available with Lyrics. I found 2 out of their best of 2010 playlist with lyrics - Justin Beiber w Lyrics , Lady Gaga Telephone (Explicit) with Lyrics.
Black Eyed Peas : Pump It and others
It looks like the only way to find videos with lyrics is to look on the artist page, and look for the lyrics box.
If you’re on Twitter, you can let @VEVO know you’d like more Lyrics, and a search by lyrics available.
Other Artists with Lyrics on Some songs with Lyrics
Others Without Any:
Far East Movement
Guns – n Roses
Hall & Oates