This should work:

git clone git://anongit.freedesktop.org/pulseaudio/pulseaudio
cd pulseaudio
NOCONFIGURE=1 ./bootstrap.sh
mkdir build
cd build
../configure
make check

It doesn't currently work, because src/tests/alsa-mixer-path-test.c has this buggy function:

static const char *get_default_paths_dir(void) {
    if (pa_run_from_build_tree())
        return PA_BUILDDIR "/modules/alsa/mixer/paths/";
    else
        return PA_ALSA_PATHS_DIR;
}

It's wrong to use PA_BUILDDIR, because the path files are in the source tree, not in the build tree. The suggested solution is to define PA_SRCDIR and use it instead of PA_BUILDDIR.

src/modules/alsa/alsa-mixer.c has the same function and the same bug, so the same fix should be applied there too.