UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:__811-21053______

_______BlackRock Virginia Municipal Bond Trust_______
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE    19809 
(Address of principal executive offices) 
 
(Zip code) 

Robert S. Kapito, President

BlackRock Virginia Municipal Bond Trust

_______40 East 52nd Street, New York, NY 10022_______
(Name and address of agent for service)

Registrant's telephone number, including area code:_888-825-2257__________________

Date of fiscal year end:___August 31, 2005

Date of reporting period:__May 31, 2005_________________________________

Item 1. Schedule of Investments.

The registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:


PORTFOLIO OF INVESTMENTS
MAY 31, 2005 (Unaudited)

BlackRock Virginia Municipal Bond Trust (BHV)

Principal      
  Amount   Option Call  
Rating1 (000) Description Provisions2 Value  
    LONG-TERM INVESTMENTS—153.5%    
      Multi-State—6.9%    
Baa1 $1,500 3 Charter Mac Equity Issuer Trust, Ser. B-2, 7.20%, 10/31/52 10/14 @ 100 $ 1,713,735  
      Virginia—140.8%    
NR 1,480   Alexandria Redev. & Hsg. Auth., 3001 Park Ctr. Apts. Proj., Ser. A, 6.375%, 4/01/34 04/08 @ 103 1,532,584  
AAA 1,500 4 Arlington Cnty., GO, 5.00%, 2/01/21 02/11 @ 100 1,587,705  
A 2,150   Arlington Cnty. Ind. Dev. Auth., Hosp. Fac. Rev., Virginia Hosp. Ctr., Arlington Hlth. Sys. Proj.,    
         5.25%, 7/01/31 07/11 @ 101 2,253,587  
NR 1,500   Celebrate North Cmnty. Dev. Auth., Spl. Assmt. Rev., Ser. B, 6.75%, 3/01/34 03/14 @ 102 1,557,690  
AAA 1,500   Danville Ind. Dev. Auth., Hosp. Rev., Danville Regl. Med. Ctr. Proj., 5.25%, 10/01/28, AMBAC No Opt. Call 1,720,530  
NR 995   Dulles Town Ctr. Cmnty. Dev. Auth., Spl. Assmt. Tax, Dulles Town Ctr. Proj., 6.25%, 3/01/26 03/08 @ 102 1,025,716  
AAA 1,205   Fairfax Cnty. Wtr. Auth., Unrefunded, 5.00%, 4/01/27 04/12 @ 100 1,274,095  
AA 1,000   Hampton, GO, 5.00%, 4/01/20 04/12 @ 101 1,082,390  
A- 1,500   Henrico Cnty. Econ. Dev. Auth., Bon Secours Hlth. Sys. Inc. Proj., Ser. A, 5.60%, 11/15/30 11/12 @ 100 1,588,815  
AAA 3,000   Hsg. Dev. Auth., Comnwlth. Mtg. Rev., Ser. H, 5.375%, 7/01/36, MBIA 07/11 @ 100 3,094,650  
BBB 1,300   Isle Wight Cnty. Indl. Dev. Auth., Env. Impvt. Rev., Ser. A, 5.70%, 11/01/27 11/13 @ 100 1,354,548  
AAA 1,500   Met. Arpts. Auth., Arpt. Sys. Rev., Ser. A, 5.25%, 10/01/32, FGIC 10/12 @ 100 1,575,195  
AAA 1,500   Norfolk Arpt. Auth., Ser. A, 5.125%, 7/01/31, FGIC 07/11 @ 100 1,567,155  
A 5,000   Pocahontas Pkwy. Assoc., Toll Road Rev., Ser. B, Zero Coupon, 8/15/22, ACA 08/08 @ 45.5 1,869,650  
AA+ 1,375   Prince William Cnty., COP, 5.00%, 12/01/21 06/12 @ 100 1,466,809  
      Res. Auth.,    
AA 1,000      Infrastructure Rev., Ser. A, 5.00%, 5/01/22 05/11 @ 101 1,067,680  
AA 635      Infrastructure Rev., Ser. A, 5.125%, 5/01/27 05/11 @ 101 676,243  
AA 1,500      Wtr. & Swr. Sys. Rev., Frederick Cnty. Sanitation Auth. Proj., 5.20%, 10/01/28 10/10 @ 100 1,589,205  
AAA 1,250   Richmond Met. Auth., Expwy. Rev., 5.25%, 7/15/22, FGIC No Opt. Call 1,453,212  
AAA 3,000   Richmond Pub. Util., 5.00%, 1/15/33, FSA 01/12 @ 100 3,137,250  
BBB 500   Tobacco Settlement Fin. Co., 5.50%, 6/01/26 06/15 @ 100 498,755  
      Virginia Coll. Bldg. Auth., Edl. Facs. Rev., Washington & Lee Univ. Proj., MBIA,    
AAA 500      5.25%, 1/01/26 No Opt. Call 587,070  
AAA 1,000      5.25%, 1/01/31 No Opt. Call 1,179,360  
          34,739,894  
      Puerto Rico—5.8%    
BBB 1,420   Children’s Trust Fund, Tobacco Settlement Rev., 5.375%, 5/15/33 05/12 @ 100 1,434,087  
      Total Investments—153.5% (cost $34,924,8655)   $37,887,716  
      Other assets in excess of liabilities—1.3%   318,038  
      Preferred shares at redemption value, including dividends payable—(54.8)%   (13,529,664 )
      Net Assets Applicable to Common Shareholders—100%   $24,676,090  

1 Using the higher of S&P’s, Moody’s or Fitch’s rating.
2 Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.
3 Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of May 31, 2005, the Trust held 6.9% of it nets assets, with a current market value of $1,713,735, in securities restricted as to resale.
4 Securities, or a portion thereof, pledged as collateral with a value of $317,541 on 122 short U.S. Treasury Note futures contracts expiring Sept. 2005. The value of such contracts on May 31, 2005 was $13,818,406, with an unrealized loss of $153,112.
5 Cost for Federal income purposes is $34,876,863. The net unrealized appreciation on a tax basis is $3,010,853 consisting of $3,010,853 gross unrealized appreciation and $0 gross unrealized depreciation.

KEY TO ABBREVIATIONS

ACA   — American Capital Access   FSA   — Financial Security Assurance   
AMBAC   — American Municipal Bond Assurance Corporation   GO   — General Obligation   
COP   — Certificate of Participation   MBIA   — Municipal Bond Insurance Association   
FGIC   — Financial Guaranty Insurance Company          

1

Item 2. Controls and Procedures.

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the registrant’s principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)___BlackRock Virginia Municipal Bond Trust___

By: __/s/ Henry Gabbay_____________________________________________
Name: Henry Gabbay
Title: Treasurer
Date: July 22, 2005

      Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: __/s/ Robert S. Kapito_____________________________________________
Name: Robert S. Kapito
Title: Principal Executive Officer
Date: July 22, 2005

By: __/s/ Henry Gabbay_____________________________________________
Name: Henry Gabbay
Title: Principal Financial Officer
Date: July 22, 2005