diff --git a/arch/x86/kvm/svm/svm.c b/arch/x86/kvm/svm/svm.c
index a5e3dc482845..71b32e64e801 100644
--- a/arch/x86/kvm/svm/svm.c
+++ b/arch/x86/kvm/svm/svm.c
@@ -1000,6 +1000,9 @@ static void svm_recalc_lbr_msr_intercepts(struct kvm_vcpu *vcpu)
 	struct vcpu_svm *svm = to_svm(vcpu);
 	bool intercept = !(svm->vmcb->control.virt_ext & LBR_CTL_ENABLE_MASK);
 
+	if (intercept == svm->lbr_msrs_intercepted)
+		return;
+
 	set_msr_interception(vcpu, svm->msrpm, MSR_IA32_LASTBRANCHFROMIP,
 			     !intercept, !intercept);
 	set_msr_interception(vcpu, svm->msrpm, MSR_IA32_LASTBRANCHTOIP,
@@ -1012,6 +1015,8 @@ static void svm_recalc_lbr_msr_intercepts(struct kvm_vcpu *vcpu)
 	if (sev_es_guest(vcpu->kvm))
 		set_msr_interception(vcpu, svm->msrpm, MSR_IA32_DEBUGCTLMSR,
 				     !intercept, !intercept);
+
+	svm->lbr_msrs_intercepted = intercept;
 }
 
 static void __svm_enable_lbrv(struct kvm_vcpu *vcpu)
@@ -1450,6 +1455,7 @@ static int svm_vcpu_create(struct kvm_vcpu *vcpu)
 	}
 
 	svm->x2avic_msrs_intercepted = true;
+	svm->lbr_msrs_intercepted = true;
 
 	svm->vmcb01.ptr = page_address(vmcb01_page);
 	svm->vmcb01.pa = __sme_set(page_to_pfn(vmcb01_page) << PAGE_SHIFT);
diff --git a/arch/x86/kvm/svm/svm.h b/arch/x86/kvm/svm/svm.h
index 1aa9b1e468cb..cada5db654b8 100644
--- a/arch/x86/kvm/svm/svm.h
+++ b/arch/x86/kvm/svm/svm.h
@@ -324,6 +324,7 @@ struct vcpu_svm {
 	bool guest_state_loaded;
 
 	bool x2avic_msrs_intercepted;
+	bool lbr_msrs_intercepted;
 
 	/* Guest GIF value, used when vGIF is not enabled */
 	bool guest_gif;