Is there a CPU that runs Java in microcode?

Java is a beautifully crafted OO language but the first thing I noticed is how slow it is (compared to C++). This is probably because it has to go through another layer of translation (the VM) instead of running directly in the CPU's native microcode.

My question: Do you know of any attempts to create Java-specific CPU's that run Java natively without requiring the software-implemented VM?