1) Create a new VM with identical specifications and a new IP address. Both your old/current and new VMs will remain online for 14 days. We will shut down the old VM after this, or earlier if you inform us that you have moved over the data. At this time, we can move over your old IP address to the new VM, if that is needed.
2) We can remove your current VM, and create a new one with identical specifications with the same IP address. In this case, you will need to restore the data from your own backups. Please let us know how you wish to proceed.