VMware has shown a Nokia N800 with a ARM-chipset running Android from within Windows. The system was based on Windows CE 6 and they used their new Mobile Virtualization Platform which allowed them to run their own Android session directly in Windows.
They have now managed to make Android run from within a Windows CE 6 based system. Unfortunately, no Windows Mobile version is currently based on Windows CE 6.0. Windows Mobile 6.5 is based on Windows CE 5.2, so it we might not see Android running directly in Windows Mobile using VMware until a distance future. Still cool that they got it working!