This document introduces ARM-X, an ARM firmware emulation framework being developed by Saumil Shah. The goals of ARM-X include creating an IoT virtual machine to enable runtime analysis, reverse engineering, fuzzing, and exploit development of IoT devices. It discusses challenges with emulating IoT device firmware using QEMU and matching the kernel and drivers to the actual device. Extraction of firmware from IoT devices directly from flash memory or via hidden UART interfaces and serial consoles is also covered. A preview release of ARM-X is announced for October 23, 2019.