If the database is an important production system and you can't test the choices, I wouldn't move it and take the risk. The potential for the performance to tank does exist. Further, you will have a lot more risk in the future because once on a VM it is now dependant on a lot more variables as other applications and VM's start using resources on the same physical machine.
What do you think will happen, if someone else puts 2-3 more VM's on the same physical machine and each one has a different database? Even if the performance was good before, it won't be after that. You really need to be able manage the resources when putting something on a VM. That's the whole point of using a VM - To more efficiently use all the resources of a machine. If you lose control then sometime, someone will decide there are spare resources to use and basicly screw you without thinking. So basicly, I wouldn't put it in someone elses hands, unless you have no choice.