You want to develop Windows 8 mobile apps in your Windows 8.1 virtual machine.
You are trying to Run Windows 8 Phone SDK but get the following error:
Your Windows Phone Emulator wasn't able to create the virtual machine.
You should have at least 4GB of RAM at your Mac, 8GB is recommended.
You have Parallels Desktop for Mac 8 or later.
You have Windows 8.1 Professional x64 Virtual Machine
Your Virtual Machine should have 2 or more CPUs and at least 2GB of RAM (4GB if your Mac is equipped with 8GB)
NOTE: If you use Parallels Desktop 8 for Mac, it is recommended to assign 1 CPU to your Virtual Machine.
Enable Hyper-V (Nested Virtualization) support in the Virtual Machine Configuration (Options ► Optimization)
NOTE: If you are using Parallels Desktop 10 in the Virtual Machine Configuration go to Hardware -> CPU & Memory for enabling Nested Virtualization.
(for Parallels Desktop 8 only) Start Hyper-V manager, select the Emulator VM you are going to use in Windows 8 Phone development (default one is “Emulator WVGA 512MB”). Go to the Hyper-V VM settings and change the number of processors from 2 to 1. Press Apply and than OK in order to apply new settings.
Go to the Visual Studio for Windows Phone and create your Windows 8 Phone applications on the Mac with the help of Parallels Desktop for Mac.