As hinted at in the man page, it's probably best to use an NFS server for the dump itself (massively faster than dumping straight to tape I would think), then copy the dump files to the tape drive at your leisure.
If you have no alternative but to dump straight to tape, then do you know the device name or mount point the drive has on your system? If so, then it should be something like:
vzdump <vmNum> –dumpdir /somewhere –ionice 1
(where /somewhere is the mount point of your tape drive or the device)
I don't have direct experience of tape drives though.