If you are looking for emulators to play Xbox 360 games on the PC, your out of luck, as Microsoft has talent to steam off today's hardware hackers. However, there is hope for some, as an unknown demonstration of an emulator called Sinix360 has shown on PC that it was able to play the 360 version of Sonic: The Hedgehog. No one is sure where it came from, however its known to be a beta with the impression that the creator seems dedicated to tear down Microsoft's platform-exclusive ideas once and for all. Then on the other side of things, if you are looking for emulators for the console itself, you will love the numerous amounts of emulators for old arcade platforms, in which the games should be downloaded for free online.
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No emulator has been released for Xbox 360
A Microsoft XBOX 360 does not run an emulator. You can only play XBOX based games. Any XBOX 360 that has an emulator to play non XBOX games is a modded XBOX 360.
In short: no. The Xbox 360 has to install an original Xbox emulator program to run the Xbox games. It stores this emulation software on the hard drive.
There are currently no PC emulators for xbox games but there is one for the xbox its called a xk3y works a little like a jtag.
As of now team twiizers has released a stable one called XPC360