According to Redhat it's possible to virtualize it, you won't be able to use TSC on your host though https://access.redhat.com/documentation/en-us/red_hat_enterprise_linux/6/html/virtualization_host_configuration_and_guest_installation_guide/chap-virtualization_host_configuration_and_guest_installation_guide-kvm_guest_timing_management

Seeing as it's only included on modern processors, you can probably make due without it on your host I'd imagine, we had to do so before it was in processors.