Never tried this, but you can grab a Android Emulator from android.com.
Theoretically this should work for you if you not have a real device.

Not really the answer you wanted, but a alternative solution

Edited by user Monday, April 9, 2012 10:13:22 PM(UTC)  | Reason: Not specified

While iOS and Android deployment works with some setup (see wiki, still trying to simplify everything), WP7 has not been tested for a while and I will work on that next in the upcoming weeks. Actually I wanted to start with WP7 first (see reasons below), but none of our projects (4 internal projects) currently targets WP7, so the other platforms were more important.

Testing on WP7 is actually MUCH easier and faster than iOS or Android because it works so well in Windows and is neither as clumsy as Android deployment and not as overly complicated and iTunes-based as iOS deployment.

Once you receive a package from the Launcher you can actually run it in your emulator (WP7 or Android, for iOS you would need a mac, but that works too).

The Android emulator is completely useless for game development because it is too slow and startup is taking forever, no fun developing anything there, but yes it is possible!

WP7 works fine and is actually very close to the actual device. We have tested it with both Windows 7 touch support and with a Wii-mote to emulate the accelerometer. Holding an actual device in your hand is obviously better, but this comes the closest and we used this actually to test ZombieParty (an iPad game), which is basically the same thing except you use a flat touch monitor laying on the table as opposed to the actual iPad.

If you want to keep track when WP7 deployment works, just try it out and post whatever error you have in the platforms forum and I will post when the issue is fixed!

@Wolfhund
Yes, there is an Marketplace account required for build for WP7 or other platforms except Windows.
And we can build for mobile devices since 0.9.2 if I remember it right. The other versions have improved support for this platforms.
Check the marketplace site if you want more informations.
It's also possible to get an marketplace licence if you help in the community but I don't know whats the difference between the paid licence and this licence for helping is.

@Benjamin
The first thin I know is, that when I try to build an WP7 project, the launcher says that he is missing the Microsoft.Xna.Framework.Video reference.
So I think, all the needed references for Xna are missing