  We derive the limiting distribution for the largest eigenvalues of the
adjacency matrix for a stochastic blockmodel graph when the number of vertices
tends to infinity. We show that, in the limit, these eigenvalues are jointly
multivariate normal with bounded covariances. Our result extends the classic
result of F\"{u}redi and Koml\'{o}s on the fluctuation of the largest
eigenvalue for Erd\H{o}s-R\'{e}nyi graphs.
