Hey Arjanr,
We recently did some testing on this and ran Dells Benchmark Factory on a SQL server to get a good baseline with all of the industry standard SQL tests. We then P2V'ed this same system onto the exact same host that it was previously running on then ran the Test again. So the SQL VM was running on the same host but that physical server was just running ESXi5.5 now. We noticed about a 10% drop in performence between all the test but it was very marginal. We also noticed that anything after 8vCPU didn't really get that much performance at all. The host was a dual socket 8 core server. So we dropped the VM to 8vCPU and set the memory to whatever we needed. We have ran a BUNCH of development testing at the system and it has passed with flying colors thus far, but it woudln't hurt to do some baselines on your physical hardware first, then try a test p2v, run some baselines and compare. If the margin is small enough you will feel comfortable enough to move forward, if it is not, you might have to look at what is casuing the bottle neck.
Typically with SQL as a VM it is a better idea to scale out with multiple VM's instead of scaling up, but that's not to say scaling up is impossible, its just usally really expensive.