During an open-mic session at a recent Microsoft Build Developer Conference, Microsoft's Partner Development Manager, Frank Savage was asked if there were any plans for an Xbox 360 emulator on the now-gen console the Xbox One.
Mr Savage's response;
"There are, but we're not done thinking them through yet."
Mr Savage then added;
"There's nothing to announce, but I would love to see it myself."
There are numerous ways Microsoft can make this happen, the obvious being direct-disc playback of original Xbox 360 Games.
Another way, is to rollout a setup similar to the one Sony used on their PlayStation 3 console, as backwards compatibility via digital downloads - users on the PS3 console can (at a cost to purchase the digital copies of the games) download a selection of PS1 and PS2 titles for playback on their PS3 console.
Sony's early release of their PS3 console had limited backwards compatibility for PS2 titles, as dide the Xbox 360 for some Original Xbox games.