Hi
There is no direct path to move DB2 to Azure PaaS service like Azure DB for MySQL or Postgresql except Azure SQL SB. Here is the documentation for the same.
Other two ways to move your DB to cloud is:
As you mentioned to move the DB2 to a VM in Azure Cloud.
Move DB2 to MySQL or Postgresql while the Db is on premises and then move the Db to corresponding PaaS service e.g. Azure DB for MySQL or Postgresql.
Second method will ensure proper testing on premises for your Db workload and proper migration.
Hope this helps.
Thanks
Navtej S