Is android application not running on Virtual Box?

I'm getting the following error while running the android application. Currently i'm using Windows XP and installed through Virtual Box.

invalid command-line parameter: Files\Android\android-sdk\tools/emulator-arm.exe.
Hint: use '开发者_运维问答@foo' to launch a virtual device named 'foo'.
please use -help for more information

But that same application will running on normal Windows XP Pc. Is there any issue on Windows XP with Virtual Box? or Is there any other issue?

There's a bug with the emulator in the v12 release that does not play well with paths with spaces (that's why you see only Files instead of c:\Program Files). That's also why it works in your previous installation (pre-12) and not in the new one. See this answer.