Apple - How do I resize the iOS simulator?

You can't. I've been an iOS software developer for two years and I haven't been able to find a way do this. I have tried to find solutions to this but came up with nothing. I'd love to be proven wrong, but I'm 99% certain there's no way to do this.

When my screen is too small I use 50% scale window, which is ought to be enough until I hook up my big monitor again at home.

EDIT: As of Xcode 9, you can resize it to any way you want from the corner of the simulator.

You can scale iOS Simulator to desire scale (I tried from .2 to 1.4 ) and it worked for me.

To do this you have to go to /Library/Preferences and edit com.apple.iphonesimulator.plist file. Edit value for key SimulatorWindowLastScale to desire scale.

I tried this on latest version of Mountain Lion (10.8.4) and on the iOS 6.0 Simulator.

In Xcode 6.3 just press ⌘+5 (25% scale) or ⌘+4 (33% scale). Or in Window > Scale