Within the forthcoming Linux 3.7 kernel
there is support for Xen virtualization support on ARM
when using a Cortex-A15 SoC. While not yet merged to mainline, KVM virtualization support for the ARM architecture is also coming about.
Patches are now up to their third revision that enable KVM/QEMU support on ARM when using Cortex-A15 hardware. There's kernel patches still needed to go upstream, which one would hope will happen for the Linux 3.8 kernel.
The latest patches that were released this week for the Kernel-based Virtual Machine (KVM) on the ARM Cortex-A15 can be found on the KVM mailing list
This is just one of many exciting announcements lately concerning ARM Linux from 5-Watt quad-core servers
to open-source 3D drivers
and an ARM 64-bit compiler