The spidergon scheme is a commercial NoC (Network On-Chip) proposed recently to address the demand for a fixed and optimized topology to realize cost effective multi-processor SoC (MPSoC) development . The increasing diversity of the applications quality of service requirements may, however, inhibit employing a particular architecture for a wide range of applications, unless the performance it delivers is improved. A traditional approach to enhance the performance of the interconnect networks has been employing the virtual channels. In this paper, we present an analytical model to evaluate the performance of the spidergon NoC and to study the effect of employing virtual channels. Results obtained through simulation experiments show that the model exhibits a good degree of accuracy in predicting average message latency under various working conditions.