Speculative decoding is a powerful way to accelerate autoregressive large language models (LLMs), but directly porting it to vision-language models (VLMs) faces unique systems constraints: the prefill stage is dominated by visual tokens whose count scales with image resolution and video length, inflating both compute and memory, especially the key-value (KV) cache. We study speculative decoding for VLMs and introduce SpecVLM, a practical system that (1) establishes a strong EAGLE-2-style baseline, EagleVLM, delivering 1.5--2.3x end-to-end speedups over full autoregressive inference, and (2) further accelerates VLM inference with an elastic visual compressor that adaptively selects among pruning, pooling, convolution, and resampler primitives to balance FLOPs/parameters and accuracy per input. To avoid costly offline distillation corpora, we propose an online-logit distillation protocol that trains the draft model with on-the-fly teacher logits and penultimate features using a combined cross-entropy and Smooth L1 objective, eliminating storage and preprocessing while remaining compute-efficient. This protocol reveals a training-time scaling effect: longer online training monotonically increases the draft model's average accepted length, improving speculative efficiency. Empirically, SpecVLM achieves additional acceleration, culminating in 2.5--2.9x end-to-end speedups within 5 epochs across LLaVA and MMMU, consistently over resolutions and task difficulties, while preserving the target model's output distribution (lossless decoding). Our code is available at https://github.com/haiduo/SpecVLM.