This invention relates to a method, system and computer program product for performing on-the-fly migration of a virtual server from one network node to another node on the network. All active processes executing on a virtual server are frozen and the state of these processes, including virtual server network connectivity information, are saved into a dump file. The dump file is transferred to the destination network node. Using the information stored in the dump file, the execution state of all active processes and the state of network connections of the virtual server are restored at the destination node to the state existing immediately prior to on-the-fly migration.