First you need to download the SDKs of interest from the menu Android Studio Tools → Tools → Android → SDK Manager or
in the menu bar.
Do not forget to install the intel x86 haxm emulator accelerator from the SDK manager - this will significantly speed up your Android virtual device.
Then continue as you mentioned in your question.
You can find more information here .
EDIT: from the comments, your version of OS X 10.7.5 and Android Studio runs on 10.8.5 , so you either:
- Update your OS X installation.
- Install Eclipse and use google's ADT plugin in your current configuration.
source share