It may be possible using QEMU, but someone would have to get an image of the entire iOS from an Apple device (hard to do without special equipment!). Knowing Apple, the OS would detect that it's on hardware different from Apple's and probably lock you out, unless you have some way of cracking the OS for use on other hardware like what was done with Mac OS X. Unlike making a Hackintosh, putting iOS on anything else is not desirable by many people, so you'd have to spend lots of time and effort making a crack for it yourself. If you have a Paid And Licensed Copy™ of Apple's Proprietary™ Objective-C™ iCode™ or XCode™ or Whatever It's Called™, it should come built-in with an emulator-like addon as far as I know. But that emulator is only for testing your App™ built in Objective-C™, and Wouldn't Allow™ you to use it for anything else.
