That's a reasonable upgrade. If you have the time and effort, you can learn how to set it up easily. You can check in on lowentalk.com and of course the trusty google on how to set it up. Each hosting provider use different setup, hence you need to be specific in the search term.
The advantage is, if you have a few license, you can separate them into each individual vps, thus giving it more resource per MP. The other thing is, some host don't give you a dedicated KVM over IP, so when you need to reinstall the OS, you need to spend more time or spend some money to rent the KVM. With the vps, you can perform reinstall without asking for a KVM over IP.