Resolution

No, each and every VE uses the pagefile residing on the node – i.e. the whole memory which can be allocated by the VEs can be gotten from the physical memory installed on the node and virtual memory allocated from pagefile.

Since the virtual memory and pagefile are not used inside the VE itself , the allocated memory for a certain VE are limited within the VE QoS settings and can be considered as physical memory without pagefile on normal physical server. This implies that when all the memory within a VE is consumed by some application, it cannot be increased by mean of using pagefile as on a normal physical server. The application will return the out of memory exception message.

Additional information

How to emulate existence of paging file inside a container.