Recently virtualization has been one of the most popular research topics in system software area. While there are many commercial virtualization products for general-purpose computer system, little efforts are made to virtualize embedded system. In this paper, we design and implement a virtual machine monitor which divides each physical hardware resource of an embedded system into logical ones and reorganizes them into many virtual machines so that several real-time operating systems run concurrently on a single embedded system. We measure various performance metrics of the virtual machine monitor developed on a real embedded system. The results of the measurement study show that our virtual machine monitor has enough potentiality of its application to real-world embedded systems.