1. A just in time compilation method for a virtual machine environment coupled to a memory, comprising: identifying a program structure for compilation; creating a low optimization compiled version of the program structure that is relocatable in the memory; storing into a persistent cache the low optimization compiled version of the program structure that is relocatable; and relocating the low optimization compiled version of the program structure into a virtual machine address space in the memory, wherein relocating the low optimization compiled version of the program structure includes transforming the low optimization compiled version to a compiled version with fixed addresses in the memory that can be executed.