Hello,
Even if there is no limitations for the migration you are expected to do, it is a best practice to update/migrate all your components to more recent version because firmware and VIOS are very old in your case. You can encountered perfomance issues and security issues.
I recommend you firmware updates to SV860_246 and VIOS migration to 4.1.1.0.
HMC and P8 Firmwares :
First you will need to update HMC and Power firmware according to this matrix :
https://esupport.ibm.com/customercare/flrt/matrix?domain=mtm=8286-42A&pkey=pwr
The only firmwares available to download for P8 are SV860_245 and SV860_246 if you have IBM support for your server. In your case this firmware update will be disruptive because you have a too old version installed.
After you can use IBM MDS to help you to find adapter drivers for HBA, ethernet card, SAS...
https://esupport.ibm.com/customercare/mds/
VIOS :
It will be a must to migrate your VIOS to more recent version, your system is compatible.
https://www.ibm.com/support/pages/node/6027184
First update from 2.2.6.0 to 2.2.6.65.
After migrate to 3.1.4.31
This link provide helpfull informations : https://www.ibm.com/support/pages/ibm-powervm-recommended-upgrade-paths-virtual-io-server-vios-version-31
Then after migrate to 4.1.1.0.
You can follow this excellent article from Jacqui Lynch : https://techchannel.com/systems-management/how-to-upgrade-to-powervm-v4-1-0-10/
I've already migrated VIOS to 4.1.1.0 on Power8 in SV860_246 with no issues.
Regards.
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Damien LEMAGNEN
Power/AIX system engineer