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KVM Load over Server & Monitoring Tool

Hello,
In KVM Virtualization, having high load on a VM will affect other VMs in the same node ?? Like, a 2 Core Assigned VPS having load 15-16 constantly; will it degrade the performance of other VMs ??
If yes, then how to monitor all the VM loads, any software or monitoring tool ??
Thanks.
Comments
Will I be able to monitor loads of VM ?? I can see they only monitor node's load. Or, with the help of the process listed I can get to know which VM is abusing ??
Sorry mate I read it as being a single user VM not all VMs on a node