[Users] Live migration

Hello, We are in the process of testing oVirt and replacing citrix all together. A few things we are curious about but can't find any concrete information on: Can oVirt live migrate data (VM's, etc.) to another machine in the pool/cluster in the event of a hardware failure, if the data is stored locally on the machine? For this to be possible, does it have to be on a shared storage? Thank you, Neil