Business Grids are envisioned to become the adaptive service-oriented utility infrastructure for arbitrary business applications and related transactions. Consolidation, virtualization and automation enables this service architecture while satisfying the needs for agility and cost efficiency in today's and tomorrow's ever changing business environment. It also allows for the non disruptive infusion of new technology components. This brief industrial report focuses on a main cornerstone to achieve this vision, virtualization technologies and examines the current practice and required research directions. Keywords: business grids, autonomic systems, autonomous systems, virtualization