Ionic emulator not running - DTiPhoneSimulatorErrorDomain Code=2

I’m unable to get my ionic emulator to run. I’ve tried everything on the forums. I have the following installed,

ionic - 1.3.18
ios-sim - 3.1.1
ios-deploy - 1.4.0
cordova - 4.3

I’m seeing the following error,

Session could not be started: Error Domain=DTiPhoneSimulatorErrorDomain Code=2 “Simulator session timed out.” UserInfo=0x7f9a91f2fee0 {NSLocalizedDescription=Simulator session timed out.}
Error code 1 for command: ios-sim with args: launch,/Users/sabareesh/Documents/DeveloperBox/Projects/wwv/ui/platforms/ios/build/emulator/Walk With Values.app,–devicetypeid,com.apple.CoreSimulator.SimDeviceType.iPhone-6,–stderr,/Users/sabareesh/Documents/DeveloperBox/Projects/wwv/ui/platforms/ios/cordova/console.log,–stdout,/Users/sabareesh/Documents/DeveloperBox/Projects/wwv/ui/platforms/ios/cordova/console.log,–exit
Error: /Users/sabareesh/Documents/DeveloperBox/Projects/wwv/ui/platforms/ios/cordova/run: Command failed with exit code 2
at ChildProcess.whenDone (/usr/local/lib/node_modules/cordova/node_modules/cordova-lib/src/cordova/superspawn.js:131:23)
at ChildProcess.emit (events.js:110:17)
at maybeClose (child_process.js:1008:16)
at Process.ChildProcess._handle.onexit (child_process.js:1080:5)

I have a deadline this weekend and this is such a big showstopper. Any kind of help is appreciated.

I have a same problem with deploying to ios simulator. Anybody know how to resolve this problem?