There are various approaches to run macOS as guest under kvm. One is to add apple-specific features to OVMF, as described by Gabriel L. Somlo. I've choose to use the Clover EFI bootloader instead. Here is how my setup looks like.

What you needed

First a bootable installer disk image. You can create a bootable usbstick using the createinstallmedia tool shipped with the installer. You can then dd the usb stick to a raw disk image.

Next a clover disk image. I've created a script which uses guestfish to generate a disk image from a clover iso image, with a custom config file. The advantage of having a separate disk only for clover is that you can easily update clover, downgrade clover and tweak the clover configuration without booting the virtual machine. So, if something goes wrong recovering is a lot easier.

Qemu. Version 2.10 (or newer) strongly recommended. macOS versions up to 10.12.3 work fine in qemu 2.9. macOS 10.12.4 requires fixes for the qemu applesmc emulation which got merged for qemu 2.10.

OVMF. Latest git works fine for me. Older OVMF versions trip over a recent qemu update and provides broken ACPI tables to the OS then. With the result that macOS doesn't boot, even though ovmf itself shows no signs of trouble.

Configuring your virtual machine

Here are snippets of my libvirt config, with comments explaining the important things:

<domain type='kvm' xmlns:qemu='http://libvirt.org/schemas/domain/qemu/1.0'>

The xmlns:qemu entry is needed for qemu-specific tweaks, that way we can ask libvirt to add extra arguments to the qemu command line.

  <os>
    <type arch='x86_64' machine='pc-q35-2.9'>hvm</type>
    <loader readonly='yes' type='pflash'>/usr/share/edk2.git/ovmf-x64/OVMF_CODE-pure-efi.fd</loader>
    <nvram template='/usr/share/edk2.git/ovmf-x64/OVMF_VARS-pure-efi.fd'>/var/lib/libvirt/qemu/nvram/macos-test-org-base_VARS.fd</nvram>
    <bootmenu enable='yes'/>
  </os>

Using the q35 machine type here, and the cutting edge edk2 builds from my firmware repo.

  <cpu mode='custom' match='exact' check='partial'>
    <model fallback='allow'>Penryn</model>
    <feature policy='require' name='invtsc'/>
  </cpu>

CPU. Penryn is known-good. The invtsc feature is needed because macOS uses the TSC for timekeeping. When asking to provide a fixed TSC frequency qemu will store the TSC frequency in a hypervisor cpuid leaf. And macOS will pick it up there. Without that macOS does a wild guess, likely gets it very wrong, and wall clock in your guest runs either way too fast or way too slow.

    <disk type='block' device='disk'>
      <driver name='qemu' type='raw' cache='none' io='native' discard='unmap'/>
      <source dev='/dev/path/to/lvm/volume'/>
      <target dev='sda' bus='sata'/>
    </disk>

This is the system disk where macOS is be installed on. Attached as sata disk to the q35 ahci controller.

You also need the installmedia image. On a real macintosh you'll typically use a usbstick. macOS doesn't care much where the installer is stored though, so you can attach the image as sata disk too and it'll work fine.

Finally you need the clover disk image. edk2 alone isn't able to boot from the system or installer disk, so it'll start clover. clover in turn will load the hfs+ filesystem driver so the other disks can be accessed, will offer a boot menu and allows to boot macOS.

    <interface type='network'>
      <source network='default'/>
      <model type='e1000-82545em'/>
    </interface>

Ethernet card. macOS has drivers for this model. Seems to have problems with link detection now and then. Set link status to down for a moment, then to up again (using virsh domif-setlink) gets the virtual machine online.

    <input type='tablet' bus='usb'/>
    <input type='keyboard' bus='usb'/>

USB tablet and keyboard, as input devices. Tablet allows to operate the mouse without pointer grabs which is much more convenient than using a virtual mouse.

    <video>
      <model type='vga' vram='65536'/>
    </video>

Qemu standard vga.

  <qemu:commandline>
    <qemu:arg value='-readconfig'/>
    <qemu:arg value='/path/to/macintosh.cfg'/>
  </qemu:commandline>

This is the extra configuration item for stuff not supported by libvirt. The macintosh.cfg file looks like this, adding the emulated smc device:

[device "smc"]
driver = "isa-applesmc"
osk = "<insert-real-osk-here>"

You can run Gabriels SmcDumpKey tool on a macintosh to figure what the osk is.

Configuring clover

I'm using config.plist.stripped.qemu as starting point. Here are the most important settings:

Boot/Arguments
Kernel command line. There are lots of options you can start the kernel with. You might want try "-v" to start the kernel in verbose mode where it prints boot messages to the screen (like the linux kernel without "quiet"). For trouble-shooting, or to impress your friends.
Boot/DefaultVolume
Name of the volume clover should boot from by default. Put your system disk name here, otherwise clover will wait forever for you to pick a boot menu item.
GUI/ScreenResolution
As the Name says, the Display Resolution. Note that OVMF has a Display Resolution Setting too. Hit ESC at the splash screen to enter the Setup, then go to Device Manager / OVMF Platform Configuration / Change Preferred Resolution. The two Settings must match, otherwise macOS will boot with a scrambled display.

Go!

That should be it. Boot the virtual machine. Installing and using macOS should work as usual.

Final comment

Gabriel also has some comments on the legal side of this. Summary: Probably allowed by Apple on macintosh hardware, i.e. when running linux on your macintosh, then run macOS as guest there. If in doubt check with your lawyer.