Dedicated to the dispatch of SMS based on the virtual multi-port, this paper puts forward on the SMS Dispatch System Model with dynamic load balancing strategy based on the queuing model. It extracts the system application model on the basis of the overall system architecture, then analyzes and demonstrates the model with the knowledge of Queuing Theory. It brings in dynamic load balancing and multi-thread scheduling strategy. Through the theory and practice, we conclude that the system model can ensure the high concurrency, real-time and load balance of SMS application.