This might help. http://sketchupdate.blogspot.com/2007/07/wrapping-image-around-cylinder.html
There is also a new(ish) UV Tools ruby script in the Ruby forum that, if you set it to cylindrical, will wrap an image around a cylinder precisely once.
There are posts here and on the Google Groups site that deal with such things...cycloramas. There are also a few posts dealing with complete skydomes, which will also work; if you need to look up a little more.