Android Emulator 5.1.1 not loading on Mac OS X Android Studio

I just created a new Android Emulator by cloning Nexus 6 in IntelliJ Android Studio (snapshot mode option selected) but I see that it been almost an hour and nothing comes up on the Screen! Below is the configuration settings for my emulator,

Name: 5_1_1
CPU/ABI: Intel Atom (x86_64)
Path: /Users/myuser/.android/avd/5_1_1.avd
Target: Android 5.1.1 (API level 22)
Skin: nexus_5
SD Card: 100M
Snapshot: yes
hw.lcd.density: 480
hw.dPad: no
avd.ini.encoding: UTF-8
hw.camera.back: none
disk.dataPartition.size: 200M
hw.gpu.enabled: no
runtime.network.latency: none
skin.dynamic: yes
hw.keyboard: yes
runtime.network.speed: full
hw.device.hash2: MD5:2fa0e16c8cceb7d385183284107c0c88
hw.ramSize: 2048
tag.id: default
tag.display: Default
hw.sdCard: yes
hw.device.manufacturer: Google
hw.mainKeys: no
hw.accelerometer: yes
hw.trackBall: no
hw.device.name: Nexus 5
hw.sensors.proximity: yes
hw.battery: yes
AvdId: 5_1_1
hw.sensors.orientation: yes
hw.audioInput: yes
hw.camera.front: none
hw.gps: yes
avd.ini.displayname: 5.1.1
snapshot.present: yes
vm.heapSize: 128
runtime.scalefactor: auto