I see I'm a bit late on this one but I figured it out. I am using Windows 8, running Android x86 (4.4 r1) on VirtualBox.
1. Set up a Host-Only adapter so that the VM has access to your network; You can set this up only when the Android image is off. Basically just go into your settings, click on Network, and select Host-Only Adapter in the drop-down labeled Attached to. For Adapter Type select PCnet-FAST III. Check the box next to Cable Connected if it isn't already.
2. Set up an NAT Adapter by selecting a different Adapter tab and for Attached to select NAT. For Adapter Type select PCnet-FAST III again. Check the box next to Cable Connected if it isn't already.
3. Enable Developer Mode by starting up the Android image, then going to Settings > About phone/tablet > Build Number. Click on Build Number 7 times. You should see a pop up that tells you how many more times you need to click to get into Developer mode. Credit to RMP PianoTuning's answer below
4. Get the virtual Android's IP address by going into Settings > About phone/tablet > Status > and then scrolling down until you find your local IP Address. Remember this number, you'll need it for the next step.
5. Start up Android Studio and go into the console; it should be one of the options in the bottom-left corner. Type in adb connect (IP address from step 4). Take a deep breath and hit enter. If it says
connected to (IP address)
you are ready to rock! When you run the app within Android Studio, your virtual Android should appear as Innotek GmbH VirtualBox, or something like the same. Select that puppy and enjoy your new, easy-to-test-on emulator. Its even Bluetooth Compatible! (but thats a whole 'nother story... google it)
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