To become VCP-Cloud there are 2 paths avilable but as of now only 1 path us LIVE
Path 1 : Is as you said to VCP5-DV + laas = VCP- cloud
Path 2 : Is to attend Cloud course and sit for VCP-Cloud exam (but this path is not released)
Check this link for more details http://mylearn.vmware.com/mgrReg/plan.cfm?plan=32558&ui=www_cert