Hello,
Installing LiveUpdate Administrator (LUA) and Symantec Endpoint Protection Manager (SEPM) on the same physical computer is not supported, nor recommended. This includes installing them to different virtual machines on the same physical computer.
Check this Article:
LiveUpdate Administrator 2.x and Symantec Endpoint Protection Manager on the same computer
http://www.symantec.com/docs/TECH105076
Have you checked these cool articles:
https://www-secure.symantec.com/connect/articles/managing-liveupdate-administrator-2x-space-usage
When is it Recommended to Use LiveUpdate Administrator 2.x with Symantec Endpoint Protection?
http://www.symantec.com/docs/TECH154896
Hope that helps!!