diff --git a/arch/x86/kvm/cpuid.c b/arch/x86/kvm/cpuid.c
index 35223eb63242..06a278b3701d 100644
--- a/arch/x86/kvm/cpuid.c
+++ b/arch/x86/kvm/cpuid.c
@@ -171,7 +171,6 @@ static void kvm_vcpu_after_set_cpuid(struct kvm_vcpu *vcpu)
 
 	/* Invoke the vendor callback only after the above state is updated. */
 	kvm_x86_ops.vcpu_after_set_cpuid(vcpu);
-	kvm_x86_ops.update_exception_bitmap(vcpu);
 }
 
 static int is_efer_nx(void)
diff --git a/arch/x86/kvm/vmx/vmx.c b/arch/x86/kvm/vmx/vmx.c
index a3d63ea5a090..b74b59cba22c 100644
--- a/arch/x86/kvm/vmx/vmx.c
+++ b/arch/x86/kvm/vmx/vmx.c
@@ -7248,6 +7248,9 @@ static void vmx_vcpu_after_set_cpuid(struct kvm_vcpu *vcpu)
 			vmx_set_guest_uret_msr(vmx, msr, enabled ? 0 : TSX_CTRL_RTM_DISABLE);
 		}
 	}
+
+	/* Refresh #PF interception to account for MAXPHYADDR changes. */
+	update_exception_bitmap(vcpu);
 }
 
 static __init void vmx_set_cpu_caps(void)