I was using Xcode 6.0.1 till now and things were fine. Then I upgraded to Xcode 6.1 and tried running my application(which has a deployment target of 7.0) in iPhone 6 simula
Maintain an accurate list of iOS simulators
When upgrading, you may drag around old simulators no longer available with your current version of Xcode. You can clean these by running this command in Terminal:
xcrun simctl delete unavailable
Quit Xcode first just for good measures. From the documentation:
Delete a device or all unavailable devices.