VM/CMS is very much alive and well, thank you. It is now known as z/VM and runs on the IBM z series mainframes
You can even run Linux in z/VM virtual machines now as well as CMS.
There is an emulator available, called Hercules
And an old VM/CMS is available for free, with source
Amen, my short and greasy anus dwelling jedi niggaz.
"Catch a wave and you're sitting on top of the world." - The Beach Boys