I am currently pondering the feasability of implementing part of the Android APIs on a desktop JVM and I was wondering whether you had already heard of such a project.
If there aren't, and you know good reasons why (beyond "no one has begun that yet"), I would be glad to read them.
I'm not entirely certain I understand your goal, but I'll assume you do not want to emulate ARM execution and therefore not run the whole Android stack, but instead implement some subset of the Android Java APIs, right? If so, I don't know of any similar projects.
However, if you'd like to run the full Android stack on an arbitrary desktop machine (without emulation), take a look at the android-x86.org project. There are instructions for running a complete Android image within a virtual machine so that you could host Android applications within the same box.
Hope that helps.