A virtual machine live migration method, apparatus, and system relating to the field of communications technologies are disclosed. The method includes: in a process of live migration of a target virtual machine, obtaining pre-recorded storage location information corresponding to target service configuration information, where the target service configuration information is used by a target virtual acceleration component corresponding to the target virtual machine to perform service processing; reading the target service configuration information in a storage location corresponding to the storage location information; and sending the target service configuration information to a destination server, so that the destination server stores the target service configuration information. In the present disclosure, a service processing failure can be avoided.