The most common and most likely answer to this crossword clue is the 6 letter word RESIDE
R
E
S
I
D
E
Buddy explains!

The straight part
We know that "Live" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case live = reside.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RESIDE mean?
RESIDE verb- To dwell permanently or for a considerable time; to have a settled abode for a time; to remain for a long time.
- To have a seat or fixed position; to inhere; to lie or be as in attribute or element.
- To sink; to settle, as sediment.