Virtual Machine, Pagefile Enabled or Dissabled?

I have 4-5 virtual machines running IIS on 2 host's. I know that the page-file must be enabled on the host machine but I'm not sure about the virtual machines. Regardless of IOps consumption my monitoring keeps sending that the page file usage is above 90% when the memory allocated runs between 40-75%. I'm considering turning off the page file completely on the virtual machines.

Are there any reasons one shouldn't do this?

Solution 1:

Depending on the OS the virtual files may be used to simply offload things that are in memory but not used (like the UI if noone is logged in). This means you may end up using more memory for a reduction in virtual memory.

That said, make sure the virtual memory is on a separate virtual disk - and not backed up. As it will basically be changed on every backup cycle, it will require a potentially lot of backup space.