The growth of space debris is becoming a severe issue that urgently requires mitigation measures based on maintenance, repair, and de-orbiting technologies. Such on-orbit servicing (OOS) missions, however, are delicate and expensive. Virtual Reality (VR) enables the simulation and training in a flexible and safe environment, and hence has the potential to drastically reduce costs and time, while increasing the success rate of future OOS missions. This paper presents a highly immersive VR system with which satellite maintenance procedures can be simulated interactively using visual and haptic feedback. The system can be used for verification and training purposes for human and robot systems interacting in space. Our framework combines unique realistic virtual reality simulation engines with advanced immersive interaction devices. The DLR bimanual haptic device HUG is used as the main user interface. The HUG is equipped with two light-weight robot arms and is able to provide realistic haptic feedback on both human arms. Additional devices provide vibrotactile and electrotactile feedback at the elbow and the fingertips. A particularity of the realtime simulation is the fusion of the Bullet physics engine with our haptic rendering algorithm, which is an enhanced version of the Voxmap-Pointshell Algorithm. Our haptic rendering engine supports multiple objects in the scene and is able to compute collisions for each of them within 1 msec, enabling realistic virtual manipulation tasks even for stiff collision configurations. The visualization engine ViSTA is used during the simulation to achieve photo-realistic effects, increasing the immersion. In order to provide a realistic experience at interactive frame rates, we developed a distributed system architecture, where the load of computing the physics simulation, haptic feedback and visualization of a complex scene is transferred to dedicated machines. The implementations are presented in detail and the performance of the overall system is validated. Additionally, a preliminary user study in which the virtual system is compared to a physical test bed shows the suitability of the VR-OOS framework.