Can it be? Finally someone is trying to port an N64 emulator to the dreamcast. Although this is done by some friendy foreigners, they have infact stated they are starting a project. Here are the details:

We are coding an emulator of N64 system to play roms of
N64 on a Dreamcast. yes, an N64 emulator for Dreamcast. The preoject is going well and we expect to release the emulator in April. I am writing to you to release this information to let people know our work. This month we will have an site on the web.
Thx for your time and soon we contact you to let you know our site and evolution of Dream64.

Note: We are not english, american, whatever, we are
portuguese, so fogive us for our english.

Team X-Emulation.

This is going to be great for all us fans of playing n64 games on dreamcast.