In the launch options window that opens, select the option to Wipe user data. If you still have the GUI Google Emulator Manager (you will if your Android SDK Tools are version Google Emulator Manager, then:ģ.
I would first try clearing the user data. The error would seem to indicate that there is some issue with the HAXM module, but it could be something corrupted with the emulator image.
User21936 not sure why it would suddenly stop working.