Run your Flash apps in Xcode iOS Simulator with AIR 3.3

AIR 3.3 adds a new feature to preview and debug your apps directly in iOS Simulator that is part of Xcode on Mac. This rapidly speeds up testing and preview of an app or a game especially when you use native extensions.

[Download AIR 3.3 SDK]
Simulator support is not yet part of the Flash Builder, but you can already use it via command-line:
Compile for iOS Simulator
There two new options available with adt for iOS Simulator compilation:
1) ipa-test-interpreter-simulator (for testing)
2) ipa-debug-interpreter-simulator (for debugging)

PATH_TO_AIR33SDK/bin/adt -package
-target ipa-test-interpreter-simulator
-provisioning-profile DEMO.mobileprovision
-keystore CERTIFICATE.p12
-storetype PKCS12
-storepass PASSWORD FINALAPP.ipa DESCRIPTOR.xml APP.swf

Read more: Run your Flash apps in Xcode iOS Simulator with AIR 3.3