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Description of problem:
Upstream already has this typo fixed.
From /usr/share/vdsm/storage/storageServer.py :

    def connect(self):
        if not self.checkTarget():
            #TODO: Use proper exception
            raise Exception("Could not like to directory. Path does not exist "
                    "or isn't a directory")


Version-Release number of selected component (if applicable):
vdsm-4.9.6-16.0.el6.x86_64

How reproducible:
Always

Steps to Reproduce:
1.
2.
3.
  
Actual results:


Expected results:


Additional info:

tested via looking into source code in  /usr/share/vdsm/storage/storageServer.py    
def connect(self):
        if not self.checkTarget():
            #TODO: Use proper exception
            raise Exception("Could not link to directory. Path does not exist "
                    "or isn't a directory

fixed tested in vdsm-4.9.6-23

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory, and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

http://rhn.redhat.com/errata/RHSA-2012-1508.html