GliGli released a libXenon a Nintendo64 emulator for the homebrew 360. Mupen64-360 is a Nintendo64 emulator for the Xbox 360, it's powered by libxenon and it's a port of Wii64 (which itself was a port of Mupen64).

History
v0.96 Beta: First binary release

Credits
Wii64 / Mupen64 teams (guess why
GliGli (Xbox 360 port)
Ced2911 (GUI library)
Razkar (Backgrounds)
Everyone that contributed to libxenon...

Download Mupen64 v0.96 Beta
Source- libxenon


Usage

Unzip on USB sick, then run from Xell.

Many ROM formats are supported, zipped ROMs also work.

In the browser, the Back button changes the current drive, A selects, B goes to parent dir. Back also quits a game. Other controls are described in the emulator itself.

The browser background image is loaded from /mupen64-360/bg.png on the USB stick, other backgrounds are provided.