Starting with Android SDK Tools rev 17 the Android emulator supports using the hardware virtualization feature (Intel VT, VT-x, vmx and AMD-V, SVM) which should speed-up x86 bas
A quick solution for Windows platform, Launch CMD as an administrator and type this command
SC query INTELHAXM
And you should see output like this (if hardware acceleration is up and running)
SERVICE_NAME: intelhaxm
TYPE : 1 KERNEL_DRIVER
STATE : 4 RUNNING
(STOPPABLE, NOT_PAUSABLE, IGNORES_SHUTDOWN)
WIN32_EXIT_CODE : 0 (0x0)
SERVICE_EXIT_CODE : 0 (0x0)
CHECKPOINT : 0x0
WAIT_HINT : 0x0