The iOS 8.1 simulator runtime is not available error in Xcode 6.1

Question

I was using Xcode 6.0.1 till now and things were fine. Then I upgraded to Xcode 6.1 and tried running my application(which has a deployment target of 7.0) in iPhone 6 simula

Answer 1

Rebooting did not help me.

Installing/Reinstalling Simulators worked!!

Look under (XCode Preferences-> Downloads -> Components)