360 Fanboy brings us the news that an cunning XNA developer has begun porting an NES emulator to the Xbox 360. You'll need to be a member of the XNA Creator's Club and have a Windows PC to get it running on your 360, but don't rush -- the emulator is hardly complete. From the developer:

It runs at 60% or 70% of normal speed on the 360, so it's playable but slow. There's probably some very easy optimizations and cleanups to be done still.

Right now there is no rom loading menu, so to switch roms you have to include the rom in the SharpNES360 project and set it to 'Copy to Output Directory', then edit the filename in Program.cs.

What's Missing:

Second Controller Sound Saving or State Saving Rom Loading Menu

Even incomplete that's not bad for just a couple hours of work. While I doubt you'll ever see this for sale on the Live Marketplace it's still an interesting tech demo -- and a glimpse into the fairytale future of gaming, where all the systems play all the games ever made and you get to ride a unicorn to your job at the cookie-tasting center every morning.