Simulation technology is becoming increasingly crucial in the design and optimization of satellites due to the difficulties in testing and verifying system parameters on the ground. Computationally tractable and accurate methods are required in order to test satellite parameters in the complex and dynamic space environment. Although various satellite teams have developed simulation tools, many suffer from inaccurate numerical integrators, resulting in their simulations being of low fidelity for long duration simulations. This paper presents a MATLAB/Simulink-based simulator which includes high fidelity integration and modeling for accurate and relatively quick results. The simulator includes an energy-preserving variational integrator for both translational and rotational dynamics. A Lie Group Variational Integrator is used for the rotational dynamics, which enforces an orthogonality constraint for improved accuracy. This approach requires less computational time relative to other integration methods such as Runge-Kutta method for the same level of integration accuracy. The simulator includes perturbations to the orbital motion and attitude, including Earth oblateness, aerodynamic drag, solar pressure, gravity gradient, and residual dipole. The simulator also includes an advanced hysteresis model for improved modeling of magnetic attitude control systems. Simulation results are provided for a representative small satellite mission in low earth orbit with a passive magnetic stabilization control system. We compare the novel integration and hysteresis techniques to conventional simulators for long duration simulations for a realistic mission scenario.