Microsoft has published a free Virtual Machine Migration Test Wizard. This allows you to test different VM migration scenarios. The main issue is processor compatibility, e.g. you cannot migrate between Intel/AMD. You also (without pre-configuration) cannot migrate between different generations of processor e.g. from an old Intel to a new Intel processor. There’s a tickbox to disable advanced processor functionality and allow smooth migration.
This tool with work on domain joined, Windows Server 2008 R2 (or higher) hosts where you have local admin rights and .NET 3.5 or later is installed.