time synchronization
Any modern *nix implementation is going to include NTP. When NTP senses that the time is out of sync by a "large" amount (for some value of "large") it will reset the time in one big jump instead of slewing it over a period of time. You'll usually be able to do "man ntpd" to get a man page on this facility. You should be able to sync the VM to your host system's NTP server or to one on the net (e.g., time.apple.com).
Btw, it's possible for some applications to get a bit out of whack when the time jumps. This would be a general potential problem that would also apply to putting a system to sleep. Not unique to using VMs, I just mention it for completeness. An example would be statistics that are based on time, such as network bandwidth or disk accesses per second, where there's no mechanism in place (or utilized) to compensate for NTP jumps or system sleep.
Cheers,
-Sam