You must build an iOS app in the Mac environment to ran in iPhone Simulator and you need to be installed latest Xcode and installed Xcode command line tools.
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In Volt MX Iris, To build the application.
In Volt MX Iris, from the Build menu , click Build Native Local .(Command+N)
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In the Build Native Local dialog box, Select Run on my Device/Emulator for Post build Action.
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In Configured Devices & Emulator choose the emulator running(make sure iphone launched and running before selection)
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Click on Build.
It will launch xcode and app in selected simulator.