For speed and efficiency, it would be better to use the "virt" machine type, over the existing emulation of the "versatile" board. Make the necessary changes in QEMU config to allow for this.
The fix for this issue is in git master branch commit 6acb45106dafaf6895ad1fb086b6977c256518f6 Author: Jon Mason <jdmason@kudzu.us> Date: Tue Mar 5 17:32:19 2019 -0500 qemuarm: Swap for an arm7ve (A15) configuration Add new QEMU BSP for a Arm Cortex-A15 system and use this as qemuarm, moving the old armv5te Versatile PB based machine to qemuarmv5. The new machine uses the QEMU virt machine type, which should be faster to emulate and updates the qemuarm support to a modern architecture. (From OE-Core rev: 6fc70eb4f3494bee2be10ee24fe3ea1c8b5ff988) Signed-off-by: Jon Mason <jdmason@kudzu.us> Signed-off-by: Richard Purdie <richard.purdie@linuxfoundation.org> This commit should be in 2.7 M3