Now that ITA Airways is poised to join Star Alliance (some time in the future), does anyone know if Virgin would still manage existing award bookings on ITA?

I understand no one really knows but curious if there's been similar situations with other airlines where this has happened. I'm planning on booking a flight to Rome next Spring and I'm wondering if my flight were cancelled or changed, would Virgin open up seats on their planes to get me there? Or would they simply refund the points?