RIM Shows Off Android Player at 2011 BlackBerry World
The "Android Player" simulates a Gingerbread (Android 2.3) smartphone. The player may get an upgrade to support Honeycomb (Android 3.0) as well, but that depends on Google making open-sourcing Honeycomb, which it hasn't done yet.
In addition, developers have to repackage their apps as "bar" files rather than the standard Android "apk" format. RIM said it will add an extension to the existing Android SDK, and added that it doesn't necessarily involve recompiling the source code.
Also some other big news: the incredibly popular Angry Birds which is a huge hit on Android and iOS is coming to the PlayBook as a native game. That's right, native, not running in the Android Player.