An Intel Itanium (IA-64) emulator named SKI, developed by Yufeng Gao and collaborators, has reached version 0.1 and is capable of booting the Itanium versions of Windows Server 2003 and Windows XP 64-bit, though performance is currently slow. While support for OpenVMS, HP-UX, and Linux/BSD is not yet available, this marks a significant milestone in emulation of the Itanium architecture, historically used mainly for HP-UX and OpenVMS systems, and no commercial emulators have existed so far. Additionally, a QEMU fork reportedly running Server 2008 on Itanium has emerged, pointing to ongoing developments in IA-64 emulation.
https://raymii.org/s/blog/Intel_Itanium_IA-64-Emulator_that_boots_Windows.html