Intel HAXM is required to run this AVD.
HAXM doesn’t support nested virtual machines.
Unfortunately, the Android Emulator can’t support virtual machine acceleration from within a virtual machine.
Here are some of your options:
1) Use a physical device for testing
2) Start the emulator on a non-virtualized operating system
3) Use an Android Virtual Device based on an ARM system image (This is 10x slower than hardware accelerated virtualization)