No it isn't. We have access to source code for the GPL Libraries, nothing more.actually the Source Code is already on AOSP's website for developers.
We might pull some applications, but we won't be porting the sdk emulator to the xoom.pardon my ignorance but sdk is good for making roms or just to make apps for it...or just to release hacks for other platforms like 3.2.2 ,etc. i just know its good lol but dont know what good it can be.