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It is not news anymore when somebody talks about increasing software content in today's vehicles, transportation systems and machinery. The software content and complexity has grown so tremendously and rapidly that even the most advanced product/software development techniques leave more to desire in view of evolving product life-cycles, feature content and need for development efficiency. Model-Based Design (MBD) techniques and V-Cycle based development processes address the significant need for managing complexity, and to some extent, efficiency in product development. Further efficiency in the development process can be achieved by enabling virtual validation of software components. The virtual validation environment for software not only has the ability to run the software component as a standalone unit for performance validation, but is also extended to the validation of the performance of the entire embedded software of an ECU, multiple ECUs and the entire system.