Emulate older iOS versions on Mavericks
iOS Simulator 5.0 and 5.1 do not work on Mavericks. See this, granted you have a developer account with Apple.


  The iOS simulator does not duplicate some of the low-level parts of iOS. For example, it uses the host OS X's kernel instead of trying to virtualize the iOS kernel. The iOS simulator requires that these subsystems look sufficiently similar between the simulated iOS and the host OS X. When a new host OS X changes too much it can break old simulators. At that point somebody makes an engineering and cost decision to either update the old simulator or drop support for it.