|Matt Borgerson and contributors
|GPLv2 and others
xemu is an active fork of the XQEMU project, which is based on the very popular and highly actively maintained QEMU full system emulator project. xemu is an low-level, full-system emulator which emulates the actual hardware of the Xbox. It's one of the best Xbox emulators around, and can play 5x more playable titles than Cxbx-Reloaded.
The announcements thread in the official Discord channel of this xemu emulator (see external links below) regularly posts updates on progress of user tests and compatibility levels.
In order to actually run xemu, you must have a copy of the stuff that a real Xbox needs when it turns on, check out the getting started section on the official wiki for instructions.
Unlike all other Xbox emulators (with the exception of XQEMU), xemu will only load games as disk images in the ISO format. Redump ISOs currently must be adjusted slightly by using the instructions in the Disc Images guide. Games as extracted folders in the "HDD Ready" format can be converted to ISOs using extract-xiso. It is also possible to install a custom dashboard such as UnleashX that supports installing and loading the games from the emulated hard drive.