LS I+61 303: microquasar or not microquasar?

LS I +61 303 is a puzzling object detected from radio up to high-energy gamma-rays. Variability has recently been observed in its high-energy emission. The object is a binary system, with a compact object and a Be star as primary. The nature of the secondary and the origin of the gamma-ray emission are not clearly established at present. Recent VLBA radio data have been used to claim that the system is a Be/neutron star colliding wind binary, instead of a microquasar. We review the main views on the nature of LS I +61 303 and present results of 3D SPH simulations that can shed some light on the nature of the system. Our results support an accretion powered source, compatible with a microquasar interpretation.