We propose a possible experiment aimed at a joint measurement of two non-commuting spin 1/2 components and analyze its physical meaning. We demonstrate that switching of a strong spinorbit interaction, e.g., in a solid state or a cold-atom system, for a short time interval simulates a simultaneous von Neumann measurement of the operators σx and σy. With the spin dynamics mapped onto the quantum coordinate-space motion, such an experiment determines averages of σx and σy over the duration of the measurement, however short the latter may be. These time averages, unlike the instantaneous values of σx and σy, may be evaluated simultaneously to an arbitrary accuracy.PACS numbers: 03.65. Ta,71.70.Ej Recent developments in quantum information and technology have brought the quantum measurement theory (QMT), originally formulated together with the principles of quantum mechanics (see, e.g. [1]) into the research focus. Continuing progress in experimental techniques has made it possible to test the QMT as well as make new, sometimes surprising, predictions [2]. One fundamental problem in the QMT is that of joint measurement of non-commuting variables which, according to the uncertainty principle, cannot have well-defined values simultaneously. An operational approach to the joint measurement of particle's position and momentum was proposed in the pioneering work of Arthurs and Kelly [3][4][5]. Recent attempts to extend it to non-commuting spin components can be found in Refs. [6][7][8]. Still, important questions concerning the exact nature of the measured quantity, the accuracy to which its value can be determined, and the back-action a exerted on the measured system remain unanswered to this day. The purpose of this Letter is to answer these questions, crucial for understanding the nature of any quantum measurement. We also suggest an optimal experimental technique for simulating a joint von Neumann measurement on a generic spin-1/2 system, of interest in quantum information. For the latter we propose the use of modern techniques developed for controlling spin-orbit (SO) interactions in solids [9,10] and for cold atoms in optical lattices [11][12][13][14]. The key feature of such systems, currently attracting interest for both fundamental and applied reasons (for a review see [10]), is entanglement between the translational and the spin (pseudospin) degrees of freedom. Generated once the SO coupling is switched on, the entanglement allows the particle play the role of a von Neumann pointer. Modulation of the SO coupling strength, including switching it on and off on demand, can be achieved for electrons in semiconductor structures by applying external bias to the metallic gates attached to the system [9,10]. For cold atoms similar effect can be realized with specially designed optical fields [11][12][13][14]. With the above in mind, for a particle of mass M , we will consider one of the following Hamiltonians ( = 1):wherep x andp y are the components of two-dimensional momentum,p 2 ≡p 2 x +p 2 y and the indices of t...