Download debian iso
http://cdimage.debian.org/cdimage/release/current/mipsel/iso-cd/debian-9.1.0-mipsel-netinst.iso
Download initrd & vmlinux
Create a new hard disk
$ qemu-img create -f qcow2 hda.qcow 10G
Install debian
$ qemu-system-mipsel -cdrom debian-9.1.0-mipsel-netinst.iso \
-hda hda.qcow \
-M malta \
-kernel vmlinux-4.9.0-3-4kc-malta \
-boot d \
-initrd initrd.gz \
-m 512 \
-nographic \
-append "root=/dev/sda1 nokaslr"
Allow for the installation to complete. When done copy over the vmlinux-4.9.0-3-4kc-malta file from the Debian VM to the host machine. See references [4] on how to copy vmlinux-4.9.0-3-4kc-malta from hda.qcow to your host.
Boot from hda
$ qemu-system-mipsel -hda hda.qcow \
-M malta \
-kernel vmlinux-4.9.0-3-4kc-malta \
-initrd initrd.gz \
-m 512 \
-nographic \
-append "root=/dev/sda1 nokaslr"
Important note: vmlinux-4.9.0-3-4kc-malta is the file copied from hda.qcow in the previous step and NOT the original one downloaded from ftp.debian.org. If you use the original file the Debian installer will rerun.
References