The CD-i emulator program (cdiemu) provides a fairly complete emulation of the hardware of an actual physical CD-i player.
You can download a time-limited edition from the Downloads section (Windows only for now). I ask a modest payment for the unlimited edition; see the Payments section for more information.
The time-limited edition emulates for at most three minutes between CD-i player resets and does not support permanent saving of NVRAM data such as game highscores and other CD-i title settings. The unlimited edition does not have these restrictions. More Info »
The version 0.5.3-beta2 release is essentially a limited edition, unless you have already activated an unlimited edition on your machine or you're using a Philips Mono-I player system ROM (200 F1, 210 F1, 220 F2).
In order to actually run CD-i software, the emulator needs copies of the CD-i system ROMs. These ROMs are copyrighted and cannot be freely redistributed, but you can easily obtain them via the serial port of a physical CD-i player using the provided CD-i Link program.