Had this happen to a client and also on my own machine. When searching the web and the Microsoft technet forums I found out what is causing this. Microsoft has sent out an MSI.exe that has an issue. When it calls svchost it pegs to as much CPU usage as it can get. Current the only fix I have found is to turn off automatic updates and switch back to Windows update, not Microsoft update for the web update.
Fix T:DATATechStephensvchostfix has a text file for the order in which to update.