oVirt engine should support dynamically add/remove virtual CPUs to/from a guest that has this capability
WIKI: www.ovirt.org/Hot_plug_cpu
UI:
admin can now edit a running VM number of CPU. when confirming the 'edit VM' dialog it will add/remove vcpus and online them, if the underling OS supports that
REST:
use PUT ovirt-engine/api/vms/{id} to update the number of sockets and online them if the number changed