Virtualization is the key to efficient resource utilization and elastic resource allocation in cloud computing. It enables consolidation, the on-demand provisioning of resources, and elasticity through live migration. Live migration makes it possible to optimize resource usage by moving virtual machines (VMs) between physical servers in an application transparent manner. It does, however, require a flexible, high-performance, scalable virtualized I/O architecture to reach its full potential. This is challenging to achieve with high-speed networks such as InfiniBand and remote direct memory access enhanced Ethernet, because these devices usually maintain their connection state in the network device hardware. Fortunately, the single root IO virtualization (SR-IOV) specification addresses the performance and scalability issues. With SR-IOV, each VM has direct access to a hardware assisted virtual device without the overhead introduced by emulation or para-virtualization. However, SR-IOV does not address the migration of the network device state. In this paper we present and evaluate the first available prototype implementation of live migration over SR-IOV enabled InfiniBand devices.