Running AIX in an emulated environment
Bochs can run AIX PS/2 version 1.3. See the work of Peter Naszvadi here.
QEMU added the 'pseries' machine type in 1.0 (?) for Linux support.
"The pseries machine is not a complete PAPR implementation. It's enough for Linux guests, but it's probably missing pieces that AIX requires. I'm afraid there are no plans to implement support for AIX guests." - David Gibson, IBM
Re: [Qemu-ppc] Booting AIX on qemu-system-ppc, kernel not started successfully
There is a project which intends to run KVM as a host on a modified hypervisor (OPAL) on POWER7 instead of PHYP. This is for running Linux, too.