Does unity support android emulator?

I saw a video tutorial that had ‘universal’ emulator option. But now, in my unity 4.3 version i don’t see this option. Has unity removed this option? Please somebody let me know.

I think that currently the emulator
does not run unity builds, due to the
opengles required to run some apps and
the armv7 architechture not present in
the emulator’s device…

UPDATE

This answer is outdated, now there’s support for Armv7 in Android Emulator so it’s possible to run unity apks using AVD, just select the appropriate device and set the CPU to ARMv7,
Soon Unity will be able to build to x86 architechtures too.