There are a number of specialized sites around that claim 2hr+ onto a CDR with good quality. One such site is http://kvcd.org/portal/ check 'em out.
Then there are programs like EazyVCD (from www.eazyvcd.tk ) that can make XVCD's onto 1 CDR.
But as with all these non-standard variations to VCD/MPEG1 formats, there is no guarentee they will actually play on your VCD or DVD Player. You need to try one out first for yourself.