vSphere 5 introduced support for utilizing multiple network interfaces per single host for vMotion transfer. This is very useful feature for systems which are limited to 1 Gigabit network as migrating multiple VMs off a host can take very long time with 1 Gigabit vMotion network. Multiple NIC vMotion also allow larger workloads to be migrated successfully when they could fail without in case of insufficient vMotion bandwidth.
Taking advantage of multiple NIC vMotion requires having multiple vMotion vmkernel interfaces on each host. You need to assign unique IP address for each of those vmkernel interface and you should bind each vmkernel interface to a different uplink NIC.
Configuring standard vSwitch for multi-NIC vMotion
To enable multiple NIC vMotion with standard vSwitch you could either use single vSwitch with multiple uplinks, or you could use multiple vSwitches with single uplink.
a. Single vSwitch with multiple uplinks

b. Multiple vSwitches with single uplink
vMotion vmkernel interface
Add new vmkernel interface and enable vMotion on it. vSphere 5 can load balance vMotion transfer over up 16 interfaces with 1 Gigabit NICs or up to 4 interfaces with 10 Gigabit NICs.

You can assign IP addresses from same subnet to all vMotion vmkernel interfaces, but IP address has to be unique on each interface.

Override switch failover order
If you have multiple vmkernel interfaces on same vSwitch you need to assign dedicated uplink for each vMotion portgroup. Go to the “NIC Teaming” tab on portgroup settings, enable “Override switch failover order” and configure only single vmnic as “Active Adapters”, any other adapters should be set as “Unused Adapters”.
Repeat this step for each vMotion vmkernel interface, assign unique vmnic adapter for each vMotion portgroup, eg. “vMotion 1” portgroup has “vmnic2” as active adapter and “vMotion 2” portgroup has “vmnic3” as active adapter.

Verifying multi-NIC vMotion functionality
ESXi 5 hosts will take advantage of multiple vMotion interfaces automatically once they have been properly set. Any single vMotion will be load balanced on all vMotion interfaces you have configured. To verify that vMotion load balancing takes place check ESXi host vmkernel.log, you should see multiple connections for single vMotion session.
Outgoing vMotion session
cpu1:10496)MigrateNet: 1155: 1328264432389309 S: Successfully bound connection to vmknic ’10.0.0.4′
cpu1:10496)VMotionUtil: 3118: 1328264432389309 S: Stream connection 1 added.
cpu1:10496)MigrateNet: 1155: 1328264432389309 S: Successfully bound connection to vmknic ’10.0.0.1′
cpu1:10496)VMotionUtil: 3118: 1328264432389309 S: Stream connection 2 added.
Incoming vMotion session
cpu1:10321)MigrateNet: 1155: 1328264187746848 D: Successfully bound connection to vmknic ’10.0.0.4′
cpu0:2666)MigrateNet: vm 2666: 1979: Accepted connection from <10.0.0.5>
cpu0:2666)MigrateNet: vm 2666: 2049: dataSocket 0x4100154e60c0 receive buffer size is 563272
cpu1:2666)VMotionUtil: 3118: 1328264187746848 D: Stream connection 1 added.
cpu1:2666)MigrateNet: vm 2666: 1979: Accepted connection from <10.0.0.2>
cpu1:2666)MigrateNet: vm 2666: 2049: dataSocket 0x4100154e6760 receive buffer size is 563272
cpu1:2666)VMotionUtil: 3118: 1328264187746848 D: Stream connection 2 added.
Before you implement this with standard vSwitches you might to want to read this article by Josh Townsend http://vmtoday.com/2012/02/vsphere-5-networking-bug-2-affects-management-network-connectivity/