Command:
./qemu-system-sparc64 -M niagara -L /git/md/bin/t1_boot_fix/256/ -nographic -m 256 -drive if=pflash,readonly=on,file=/zroot/iso/s10u11/V36434-01.iso

Result: FAIL/trap (Level 14 Interrupt)

Output:
cpu Probing I/O buses


Sun Fire T2000, No Keyboard
Copyright 2005 Sun Microsystems, Inc.  All rights reserved.
OpenBoot 4.20.0, 256 MB memory available, Serial #1122867.
[mo23723 obp4.20.0 #0]
Ethernet address 0:80:3:de:ad:3, Host ID: 80112233.



ok boot -kdv
Boot device: /virtual-devices/disk@0  File and args: -kdv
hsfs-file-system
Loading: /platform/sun4v/boot_archive
ramdisk-root ufs-file-system
Loading: /platform/sun4v/kernel/sparcv9/unix
module /platform/sun4v/kernel/sparcv9/unix: text at [0x1000000, 0x10cbab5] data at 0x1800000
module /platform/sun4v/kernel/sparcv9/genunix: text at [0x10cbab8, 0x12b4e0f] data at 0x1a167c0
module /platform/sun4v/kernel/misc/sparcv9/platmod: text at [0x12b4e10, 0x12b4e27] data at 0x1a6e450
module /platform/sun4v/kernel/cpu/sparcv9/SUNW,UltraSPARC-T1: text at [0x12b4e40, 0x12b7a77] data at 0x1a6ebc0
Loading kmdb...
module /platform/sun4v/kernel/misc/sparcv9/kmdbmod: text at [0x12b7a80, 0x1327617] data at 0x1a85e70
module /kernel/misc/sparcv9/ctf: text at [0x1327618, 0x132f477] data at 0x1aab098
kmdb: failed to allocate 20971520-byte debugger area at edd00000
krtld: error during initial load/link phase

ERROR: Last Trap: Level 14 Interrupt
[Exception handlers interrupted, please file a bug]
[type 'resume' to attempt a normal recovery]
ok