@shazron added an even better (inofficial) “solution” to use, that also works if you readd the ios platform:
In the meantime, I cherry-picked the ios-sim fix only and applied it to cordova-ios@4.4.0
To use:
cordova platform add https://github.com/apache/cordova-ios.git#4.4.0-ios-sim
This is not an official release of Apache Cordova.