Hey. sorry to disappoint. This is not going to happen for a few years.
Most Everyone knows that the XBOX 360 console is powerfull as the PS3.
1:The console can't be emulated because it's more like a modified pc.
2.Even if it's possible to emulate the XBOX 360.Our computers are not powerful enough to emulate it, even at the best of the best available.
3.If you ever see a Xbox 360 Link that leads to a download.Immediately cancel the download and block the link.Because it's fake and a Virus (Mostly Trojans,Worms,or Rootkits that steal your internet information like credit card numbers,E-mail adresses,passwords etc.). Its you really want to see it, do it on a system you dont care about.
----- [Edit by GHDpro] -----
At the same time consoles are also getting evermore complicated. If you are clever you can write your own NES or Gameboy emulator without to much effort. But with each console generation the complexity of the system and by extension the level of emulation required of it gets more advanced. There may be a time when consoles get too complicated for people to write emulators* for in their spare time. The Xbox360/PS3 generation might be that time.
*) I am referring to emulators capable of running commercial games, which I'd presume is what most people want to do (the crowd that is happy about some small homebrew game working is probably not very big). Writing emulators that can emulate really simple applications is obviously not as difficult, but at the same time not as interesting.
TL;DR: IF SOMEONE CLAIMS TO HAVE A FULLY WORKING XBOX360 / PS3 EMULATOR CAPABLE OF RUNNING GAMES, IT IS ALMOST CERTAINLY FAKE!