Securing VoIP is a crucial requirement for its successful adoption. A key component of this is securing the signaling path, which is performed by SIP. Securing SIP is accomplished by using TLS instead of UDP as the transport protocol. However, using TLS for SIP is not yet widespread, perhaps due to concerns about the performance overhead. This paper studies the performance impact of using TLS as a transport protocol for SIP servers. We evaluate the cost of TLS experimentally using a testbed with OpenSIPS, OpenSSL, and Linux running on an Intel-based server. We analyze TLS costs using application, library, and kernel profiling, and use the profiles to illustrate when and how different costs are incurred, such as bulk data encryption, public key encryption, private key decryption, and MAC-based verification. We show that using TLS can reduce performance by up to a factor of 17 compared to the typical case of SIP-over-UDP. The primary factor in determining performance is whether and how TLS connection establishment is performed, due to the heavy costs of RSA operations used for session negotiation. This depends both on how the SIP proxy is deployed (e.g., as an inbound or outbound proxy) and what TLS options are used (e.g., mutual authentication, session reuse). The cost of symmetric key operations such as AES, in contrast, tends to be small.