Once infected, the computer will send copies of the same virus to every online contact on the user's list.
I have included some solutions posed by the net community because there are variation of the virus. By the way, you should attempt to "System Restore" to revert the computer to a healthy status before trying to remove the virus.
Correction to the previous post: I checked with my friends, they actually had used some methods to do it, instead of Anti-Virus (which I had suggested).
Link - technible.com (Several methods and cleaner)
Link - NoVia Computers (cleaner.zip)
Link - SGForums (msnCleaner.exe w/instructions)
Link - Article on the virus
