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Officially, no.
There are VM images running around that you can mount on a suitable Intel-based host, but they contravene licensing laws.
There are a plethora of very OSX-specific firmware enhancements and engineering features that define a real Macintosh, so why you'd want to run a "not quote right" installation on a raw PC I'm not sure.
Having said that, I'd love to have access to a stack of virtual Lion Server instances to run my applications on. As a web server, OSX and its built-in and tuned Apache/mySQL implementation excels.
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