As complexity of system LSI design is increased significantly, efficient verification methodology is mandatory to achieve reliable system and to speed up development time. HW/SW co-verification, nowadays, is interesting and practical as a tool for system verification because it allows covering large number of verification scenarios in acceptable time. In this paper, we present an efficient and unified framework of HW/SW co-verification methodology for large scale system, particularly high throughput wireless communication system. The proposed methodology combine system level simulation (e.g., MATLAB or C/C++) and physical level verification (e.g., FPGA). It allows performing fast HW/SW verification, as well as fast turn-around design exploration. The proposed methodology has been successfully employed to our case study which is 4x4 MIMO wireless communication system. Experimental results show that our case study is able to run in near real-time processing, resulting in an improvement of simulation time orders of magnitude faster than software based simulation. Moreover, the proposed verification platform can be used for complete characterization of communication performance of a MIMO wireless system employing MLD MIMO decoder for various operation modes and channel models.