With the pervasiveness of smart phones and the advance of Mobile Internet, more and more Mobile Internet services migrated to the cloud service platform for better user experience. As one of the most indispensable components of the cloud computing infrastructure, virtualization technology has attracted considerable interest recently. However, the flourish of virtualization still faces many challenges in information security. In this paper, we propose a novel architecture, called multilevel and grouping security model for virtualization (V-MGSM), for the security of resources in cloud computing platform. Specifically, to fulfill the balance between information sharing and privacy preservation, the virtual machines (VMs) are divided into diverse groups based on their corresponding entities, and each VM in the same group is assigned to different security level according to security requirements. Besides, the operation between VMs is based on mandatory access control mechanism. Detailed security analysis shows that the proposed V-MGSM can provide a secure communication mechanism for VMs and implement the synchronous updates of the borrowed data. Ultimately, we implement V-MGSM in Xen for experiments, and the results demonstrate that V-MGSM can indeed achieve data security and privacy protection efficiently for Mobile Internet service.