Brewology

First, you'll need to downgrade and get on a Custom Firmware. You can do this by using one of these tutorials.

These require a 2nd psp with custom firmware/1.50 in order to make the pandora's battery and magic memory stick:
http://www.pspbrew.com/forum/viewtopic.php?t=10454
http://www.pspbrew.com/forum/viewtopic.php?t=10137

You can use this tutorial if you don't have access to a psp with cfw/1.50:
http://www.pspbrew.com/forum/viewtopic.php?t=11076

Or you can simply buy a pandora's battery and magic memory stick to sue to put your psp on custom firmware in order to play emulators and stuff.