It isn't that similar to the ZVM, but both uses ARM cores.
The firmware format is roughly identical though, so it shouldn't be that hard for a new port to start; but still there is a lot of work to do.
And the ZVM project isn't dead, it just is ... stalled I suppose. Not really much people are working on it or don't have time or enthusiasm or whatever.
(and I believe this post is more appropriate in the New Port section?)