Recent advances in self-interference cancellation techniques enable in-band FDR systems, which transmit and receive simultaneously in the same frequency band with high spectrum efficiency. Meanwhile, wireless virtualization enables abstraction and sharing of infrastructure and radio spectrum resources in wireless networks. Both in-band FDR and wireless virtualization are promising technologies for 5G cellular networks. In this article, we first give a brief survey of them to present their basic ideas, enabling technologies, characteristics, and so on. Then we propose a virtual resource management architecture for in-band FDR networks, where multiple service providers and multiple mobile network operators coexist. Simulation results are presented to show the effectiveness of the proposed scheme.