Hello,
Backup and Restore would work on the new SEPM on a new VM with same IP address and Host name. Just make sure you have the same version of SEPM installed as installed on the older VM.
Secondly, incase of different IP, check this Article:
How to move the Symantec Endpoint Protection Manager server to a new VM or server machine with a different IP.
http://www.symantec.com/docs/TECH95311
Check this Thread: https://www-secure.symantec.com/connect/forums/server-move-new-hardware
Hope that helps!!