The sound of a vacuum tube guitar amplifier may be significantly influenced by the non-linear behavior of its output transformer, which therefore should also be considered in digital simulations. In this work, we develop a model for inductors and transformers with the magnetization following the model of Jiles and Atherton. For this purpose, the original magnetization model is rewritten to a differential equation with respect to time which can then easily be integrated into a previously developed circuit simulation framework. The model thus derived is then exercised in the simulation of three simple circuits where it shows the expected behavior.