Is it Possible to Convert Azure Classic VM dynamic IP (VIP) to Static IP (VIP)?

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I have a Classic Azure VM whose current public ip is dynamic. I want this same ip to convert to Static. Is it possible? If Yes, How?

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I want this same ip to convert to Static. Is it possible?

Yes,you can reserve the IP address to achieve that.

Reserved IPs can be used only as a VIP, ensuring that the IP address for the cloud service remains the same, even as resources are shut down or stopped (deallocated).

To reserve the IP address of a cloud service TestService in the Central US location, run the following PowerShell (Classic) command:

New-AzureReservedIP –ReservedIPName MyReservedIP –Location "Central US" -ServiceName TestService

You can see more details about converting existing dynamic IPs used as a VIP to a reserved IP address in this official document.