How to run Mac OS X within Windows Virtual PC?
Can a PC running Windows 7 with VMware, run Snow Leopard in a VMware virtual machine? Has it been done before?
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As this is currently not allowed by Apple's Terms of Service, it is not officially supported by VMware and others. You can run OS X Server, but also only on original Apple Hardware.
There was an open Source Project once (PearPC, for emulating PowerPC on Intel) but I think that is dead now.