A hypervisor exchange, e.g., an upgrade, can include consolidating resident virtual machines into a single host virtual machine, exchanging an old hypervisor with a new (upgraded) hypervisor, and disassociating the virtual resident virtual machines by migrating them to the new hypervisor. The consolidating can involve migrating the resident virtual machines from the old hypervisor to a guest hypervisor on the host virtual machine. The exchange can involve: 1) suspending the host virtual machine before the exchange; and 2) resuming the host virtual machine after the exchange; or migrating the host virtual machine from a partition including the old hypervisor to a partition hosting the new hypervisor. Either way, an exchange (upgrade) is achieve without requiring a bandwidth consuming migration over a network to a standby machine.