HOW TO PLAY PS2 GAMES ON YOUR PHONE

They said it couldn't be done ! What's next a PS2 emu :p very impressed. PPSSPP is a PSP emulator for Android, iphone, symbian blackberry, windows and pc platforms. It is being developed at a rapid pace and compatibility is increasing quickly. There are quite a few games it doesn't run yet, though, so don't expect everything to run yet.
See http://www.ppsspp.org for more information & dawnload.
No games are included with this download, you will have to dump your own PSP games and turn them into .ISO or .CSO files, or simply play free homebrew games, which are available online.
* PSP is a trademark of Sony, Inc.
There has been a lot attention towards the development and progress being made in porting PSP games and homebrew to the PS3 as of late.  But it’s not the only thing going on with PSP emulation and PPSSPP v0.7.5 is bringing the PSP games you love to a wide variety of portable devices many of which you probably already use every day. PPSSPP is an open source PSP emulator coded in C++ that allows you to play some of your favorite games on your Win, Mac or Linux PC and on a large variety of ARM-based phones and tablets (OpenGL ES 2.0 support required.)

Here is a list of some of the compatible games:
•    Monster Hunter Freedome Unite
•    God of War - Chains of Olympus
•    Dragon Ball: Evolution
•    Virtua Tennis
•    Final Fantasy Type-0
•    Lumines
•    Wipeout Pure and Pulse
•    Saint Seiya
•    Mega Man - Maverick Hunter X
•    And More…