From the first line of the source, it's a PIC (microcontroller) program, rather than something for x86 (which VirtualBox and friends emulate), so, no.
There are a few open source PIC simulators -- e.g. [1] -- and I would guess you might be able to get it running, since the link layer is SLIP over a serial port. You'd just have to wire up the simulator's serial console in the right way.
