[uulbiy]

I think this is closest to the correct answer, so I will try to expand on it. Qemu, is a processor emulator[1] and can emulate processors like x86, x86_64, ppc, mips, arm etc. Qemu is usually run with kvm[2].

[1]: http://wiki.qemu.org/download/qemu-doc.html#Introduction

[2]: http://www.linux-kvm.org/page/Main_Page