Depends on which pipes you are talking about.
Header pipes: Regular paint will not hold up. Depending on the type, it will bubble, crack, or peel.
Tailpipe: Regular spray paint will hold up to the temps. Painting it black helps to hide it a little if it can be seen. Or paint it silver to cover the welding bead.
It will only run if you don't prep right and apply too much. It will not crack the pipes.