How to use Google Cloud TPU VM in Colab?

I have create a TPU VM in Google cloud. I am able to ssh into it and run computations.

Colab allows backing the runtime with a custom GCE VM. I tried connecting with the TPU VM project, zone and instance name but it failed with VM does not exist error.

It suggests colab does not allow connecting to TPU VMs. Is there a way to use TPU VM in colab?

A similar question was asked previously on Connect Colab to paid TPU but it addressed the older node based TPU architecture. This question focusses on the new VM based architecture.