You could try this, posted over at stack overflow:
Hi, as far as I know there is no support in the emulator for bluetooth. And I will have to teach android and bluetooth in some classes. And the students will need to code stuff and test (guess it) in the android emulator.
So I came up with a bare-bone reimplementation of the android bluetooth API on top of tcp. Find it on GitHub
Basically, you run a tcp-server on your machine, and the emulators will connect through it. Instead of using the classes in the package android.bluetooth, you just need to use the classes in the package dk.itu.android.bluetooth (and other 2 little modifies).
As for now it supports:
switch on/off the "radio"
discovery devices (only other android emulators)
creating bluetooth services
connecting to bluetooth services
It's not much, but until we got some more from the android guys, I guess there is nothing else around.
Hope it'll be useful, cheers!
Apart from that borrow a friends Android device?