Hmm, the idea of the LiveCD is to stay away from exactly the situation you describe. In order to do what you want, you need to do a couple of things. Please note,
I have never done this, and I don't recommend it. You have been suitably warned!

:
1: Mount the root of your 8.04 install somewhere in the ramdisk file system
Code:
sudo mkdir /mnt/somewhere
sudo mount -t ext3 /dev/sda1 /mnt/somewhere
or something like that, assuming that your 8.04 install is on /dev/sda1.
2: You need to chroot (change root) to /mnt/somewhere
Code:
sudo chroot /mnt/somewhere
Then I
think, your commands will run on the underlying system. Please read this for more info:
https://wiki.ubuntu.com/DebootstrapChroot
I suggest lots of reading and research if you do not want to end up with a brick!
My other suggestion is use the option at the boot screen of the livecd to boot from the first hard drive.