Running Asterisk on Windows
This article shows how to run Asterisk on Windows by using the free VMware Player and QEMU emulator with the Asterisk@Home ISO (500Mb )
http://voipspeak.net/index.php?option=com_content&task=view&id=45&Itemid=28
Btw you can download OS images preinstalled with a couple of applications for QEMU from http://www.oszoo.org/