It's possible but VERY expensive and severely limited.[1] What is possible and usually acceptable though is shared storage. So another host will spin up the machine for you and you'll have encountered an "unexpected reboot". More often than not monitoring will tell you something is wonky with the server in advance, so you can live migrate to another host and lose nothing "nothing", fix or retire the machine and problem solved.

1: https://www.vmware.com/products/vsphere/fault-tolerance.html