This is simple ARM emulator called uARM, implemented by Dmitry Grinberg. (https://dmitry.gr/index.php?r=05.Projects&proj=07.%20Linux%20on%208bit)

$ git clone https://github.com/syuu1228/uARM.git

just run make.

$ make

Or, if your system installed BSD make, you'll need to run GNU make like this:

$ gmake

You will get ./uARM as an executable binary.

$ bzcat jaunty.rel.v2.bz2 > jaunty.rel.v2

$ ./uARM jaunty.rel.v2

You will get shell prompt after 10 second.

You can terminate by using killall uARM on terminal. I don't know how to shutdown safely.