Apparently I wasn't entirely correct, there DOES seem to exist an alpha-version of QEMU for Windows at http://lassauge.free.fr/qemu/
Note that I have not tried QEMU under Windows, I cannot say how easy it is to set up or how well it performs.
That article was assuming you were running a Linux distro to begin with. From Windows, what you want to do is download a Fedora/ARM iso image and use that to install it in VBox.
Try reading this article.
Wait, so Virtualbox can run ARM images? If that is correct I will try that first, otherwise I will go with QEMU for windows.