I am using Ubuntu 11.1 32 bit and have done the following:
1. Downloaded the QEMU sources from http://wiki.xilinx.com/zynq-qemu
2. Compiled with the options set as per the Xilinx wiki page.
3. Downloaded the ZynqQEMU precompiled image to get the zImage and dtbs
4. Copied the compiled qemu-system-arm executable into ZynqQEMU precompiled and execute start_qemu.sh
I have now come across several occurrences of "mmc0: Timeout waiting for hardware interrupt" and cannot continue.
To resolve this issue, modify the xilinx_zynq.dts file that comes with the qemu download and comment out the sdhci interfaces as below:
After modifying the dts you can compile a new dtb with the device tree compiler in Linux using the following command:
./linux-2.6-xlnx/scripts/dtc/dtc -I dts -O dtb -o xilinx_zynq.dtb xilinx_zynq.dts
This is run from the QEMU emulation directory and the Linux Kernel directory is one directory above.