VMS O/S Emulation on a 8086 family PC

Several years ago there was some talk of a commercial port, but it died a proper early death, considering the likely paucity of customers.  Afterall, consider the expense of re-writing all that Alpha code for Intel, not to mention the porting of applications.

I have a vague recollection that there once was a VMS look-alike for Unix (VCL?), but I don't know if it's still around.

Gavin,
True it's linked to the VAX hardware, but seeing as there are Emulations for a lot of defunct systems I thought VMS might have something similar (even though it's not quite dead yet). As a home hobby I'm building an arcade machine for the old style games I used to play as a kid. This is all on a PC emulating long dead hardware !

I'm not a home hobbyist (with VMS), but got thinking about the possibility because of my job. We have to keep a handfull of old VAX's running VMS v5 on site with an old version of Oracle on them. These have to be kept up and around for a number of years on the network for legacy reasons, and I'm keeping them in pre-Y2K dates because both the versions of VMS & Oracle are not Y2K compliant.
Since our business requires them still, and neither are under support any more, if in the next 7 or 8 years the hardware dies, it could get messy for us. I thought (hoped !) that I could stick these on some PC maybe ?
Doesn't seem like it though !

I'll leave this question open for a while longer in case someone else has any ideas on this matter.