Is a google compute virtual machine highly available?

So I have a cloud virtual machine on google compute, does this mean by nature that it is highly available? If the VM is running on a single piece of hardware on GCE, if the piece of hardware breaks then the VM could go down. Is the VM running on some kind of RAID, but for servers? So if one of the machines goes down another machine will pick up and continue running the vm? Thanks.

The machine itself is not highly available. However, Google takes several steps to increase reliability:

• Storage is replicated and independent of the physical machine the VM is running on (obviously not for local SSD). This means that even if the physical machine catches on fire, only the "runtime" state is lost but the attached disks are fine.
• VMs can live-migrate. This is a setting you can control. If enabled, the VM will be migrated to a different physical machine on maintenance events. Live-migration can lead to brief performance degradation while memory etc. is synced to the other host but the machine is not shut down / restarted.
• Even when the physical host suddenly dies, you can set your instance to restart automatically on a new machine. If you plan to use this mode, make sure your instance is able to cleanly boot to serving state without manual intervention.

If you need high availability, the best approach is to spread your instances among zones of the same region and using a network or HTTP(S) loadbalancer. These will automatically stop sending traffic to a machine in case it becomes unhealthy. Also see this short youtube video on Google's network architecture for more info.

For high availability of your application data, there are highly available options like Datastore for database-like usage and Cloud Storage for file-oriented data. Keep in mind that Cloud SQL also runs on a single instance/physical machine which means that you have to setup slaves/replicas to get high availability. However, you can also do that with your favorite DB system on plain Compute Engine instances if you are willing to maintain them yourself.