update@2013-07-26
With Android SDK updated, Google Play services SDK is now supported in Android Emulator with AVD that runs the Google APIs platform based on Android 4.2.2 or higher. Read the updated post.
Please don't test your app using Google Play services API (include Google Maps Android API v2) on Android emulator, because Google Play services is not supported on the Android emulator — to develop using the APIs, you need to provide a development device such as an Android phone or tablet; refer Google Play services SDK document.
