1. A compute node for migrating a virtual machine, the compute node comprising: a virtual machine migration module to receive a request to migrate a virtual machine of the compute node to a destination compute node, wherein the request includes a service level requirement that specifies at least one performance measure to be achieved by the compute node while the virtual machine is migrated; a service level management module to (i) determine platform resources of the compute node required to migrate the virtual machine and satisfy the service level requirement and (ii) determine an achievable service level for the request to migrate the virtual machine based on the currently available platform resources of the compute node, wherein the achievable service level specifies at least one performance measure that is predicted to be achievable by the compute node with the currently available platform resources; and a resource management module to (i) determine whether the required platform resources of the compute node are currently available to the compute node and (ii) reserve the required platform resources of the compute node for a predicted migration time in response to a determination that the required platform resources are currently available; wherein the virtual machine migration module is further to migrate, in response to reservation of the required platform resources, the virtual machine from the compute node to the destination compute node using the reserved platform resources of the compute node.