Solution 1:

There's no way to getting it wrong, there isn't anything for you to miss, but here go some insights into each step:

apt-add-repository -y ppa:aims/sagemath

this add the APT to your repository, in other words it adds this location for you APT look for when trying to install new packages. It should ask for some kind of confirmation regarding the gpu key, accept it and it will add it.

apt-get update

This updates your local listing of packages tough re-downloading every packaging list you has, all the ubuntu's defaults and also the sage listings

apt-get install sagemath-upstream-binary

This one is the one who really installs sage. What is wrong?

Solution 2:

Since this question was asked in 2014, Sage Math has become a part of the standard Ubuntu distribution:

sudo apt install sagemath

So you don't need to add any PPAs at this point.