First, let me make a terminology clarification: On IBM platforms, PowerVM and mainframes, the term is LPAR (logical partition). VM (virtual machine) is used by most other hypervisors. So you are asking if an Linux LPAR on PowerVM can be migrated to VMware.
There are different scopes to approach such a demand:
If you want to live migrate or offline transfer an LPAR from PowerVM to a VM in VMWare, or vice-versa, that's impossible. The reason is that these platforms are based on different CPU/architectures; PowerPC - Open Firmware for PowerVM, AMD64 - BIOS/UEFI [1] for VMware. Simply put, even if you connect a LUN from Power to VMware (as raw disk mapping) it won't boot.
If you are interest in clustering, failover, load balancing scenarios, that is achievable. You can setup a Linux two node cluster on a PowerVM LPAR and a VMware VM. So if you need to transfer everything to the VM, you activate the clustered services there and remove the LPAR node from the cluster.
Yet if the LPAR and its services are already setup, you may or may not make them clustered; it depends on the service. Probably even if it's possible, it'll need downtime.
In conclusion, OS/LPAR/VM migration, impossible. Service migration or co-existence, doable.
[1] Intel's x86-64/EMT64 CPUs are essentially AMD64 architecture.