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
Secondly, I would also request you to check these Articles:
A Helpful LiveUpdate Administrator 2.x Analogy
How Big are Current Symantec Endpoint Protection Definitions?
Managing LiveUpdate Administrator 2.x Space Usage
LiveUpdate Administrator 2.x Server Connection Recommendations
Hope that helps!!