There are currently a few projects ongoing with enabling VMs on smartphones. The way it was thought is that you would put your corporate stuff on a protected VM that would have no external app install, and the rest (games, social networks...) would be on the "fun" VM. That way, the company data would be better protected.
http://www.schneier.com/blog/archives/2012/07/all-or-nothing... http://cups.cs.cmu.edu/soups/2012/proceedings/a2_Hayashi.pdf
But: yes.
I'd like my phone to offer a few different "shells" of access:
- Emergency calls.
- "Share" or "play" mode. Selected photos or apps.
- "Mobile" -- ready access to stuff I need, but not distractions (the "Car Panel" on some Android phones is somewhat like this, but I'd appreciate if it didn't encourage use while driving).
- "Full" complete and potentially immersive access.