The next-generation Industrial Internet of Things (IIoT) inherently requires smart devices featuring rich connectivity, local intelligence, and autonomous behavior. Emerging Multiprocessor System-on-Chip (MPSoC) platforms along with comprehensive support for virtualization will represent two key building blocks for smart devices in future IIoT edge infrastructures. We review representative existing solutions, highlighting the aspects that are most relevant for integration in IIoT solutions. From the analysis, we derive a reference architecture for a general virtualization-ready edge IIoT node. We then analyze the implications and benefits for a concrete use case scenario and identify the crucial research challenges to be faced to bridge the gap towards full support for virtualization-ready IIoT nodes