This is virtualization, so localhost will just be the virtual iphone itself. But you should have some command of how hosts are resolved, so you can always point the browser to the device hosting what you want to test, no?
Even easier, of course, is just using the iOS simulator included with xcode, which runs on your host computer. There, localhost resolves to your host computer.
Even easier, of course, is just using the iOS simulator included with xcode, which runs on your host computer. There, localhost resolves to your host computer.