You may set your installation package to "no restart"so you can control it but it does not mean you can avoid it and the SEPM just reflects it.
Migrating the SEPM would not require any reboots. However, when Migrating the SEP clients you may require a reboot of the SEP client machines. Network Threat Protection (firewall) drivers would require a restart of the machines to get themselves activated. However, these could be taken care off by creating custom package and avoiding the restart of machines.
Creating custom client installation packages in the Symantec Endpoint Protection Manager console version 12.1
http://www.symantec.com/docs/TECH165801
Select your group
Click Policies tab
Click General Settings
View Restart Settings tab
How is this configured? You may need to adjust settings on this tab
Check this thread
http://www.symantec.com/connect/forums/upgrade-clients-sep-121-ru1-mp1-server