Integration of multiple heterogeneous processors into a single System-on-Chip (SoC) is a clear trend in embedded systems. Designing and verifying these systems require high-speed and easy-to-build simulation platforms. Among the software simulation approaches, native simulation is a good candidate since the embedded software is executed natively on the host machine, resulting in high speed simulations and without requiring instruction set simulator development effort. However, existing native simulation techniques execute the simulated software in memory space shared between the modeled hardware and the host operating system. This results in many problems, including address space conflicts and overlaps as well as the use of host machine addresses instead of the target hardware platform ones. This makes it practically impossible to natively simulate legacy code running on the target platform. To overcome these issues, we propose the addition of a transparent address space translation layer to separate the target address space from that of the host simulator. We exploit the Hardware-Assisted Virtualization (HAV) technology for this purpose, which is now readily available on almost all general purpose processors. Experiments show that this solution does not degrade the native simulation speed, while keeping the ability to accomplish software performance evaluation. The proposed solution is scalable as well as flexible and we provide necessary evidence to support our claims with multiprocessor and hybrid simulation solutions. We also address the simulation of cross-compiled Very Long Instruction Word (VLIW) executables, using a Static Binary Translation (SBT) technique to generated native code that does not require run-time translation or interpretation support. This approach is interesting in situations where either the source code is not available or the target platform is not supported by any retargetable compilation framework, which is usually the case for VLIW processors. The generated simulators execute on top of our HAV based platform and model the Texas Instruments (TI) C6x series processors. Simulation results for VLIW binaries show a speed-up of around two orders of magnitude compared to the cycle accurate simulators.