As in the beginning of the year "Google Play services is not supported on the Android emulator". With Android SDK updated, Google Play services SDK is now supported in Android Emulator with AVD that runs the Google APIs platform based on Android 4.2.2 or higher.
If you want to test your app on the emulator, run Android SDK Manager, expand the directory for Android 4.2.2 (API 17) or a higher version, select Google APIs, and install it. Then create a new AVD with Google APIs as the platform target.
Note: Only Android 4.2.2 and higher versions of the Google APIs platform include Google Play services.
Reference: Setup Google Play Services SDK
Remark: Unfortunately, I cannot run my Google Maps Android API V2 examples on Emulator caused by "Google Play services out of date..."!