diff --git a/target/i386/cpu.c b/target/i386/cpu.c
index 36cbd3d027..f1cbac2fb5 100644
--- a/target/i386/cpu.c
+++ b/target/i386/cpu.c
@@ -5987,6 +5987,7 @@ static void x86_cpu_reset(DeviceState *dev)
     /* init to reset state */
 
     env->hflags2 |= HF2_GIF_MASK;
+    env->hflags &= ~HF_GUEST_MASK;
 
     cpu_x86_update_cr0(env, 0x60000010);
     env->a20_mask = ~0x0;
diff --git a/target/i386/cpu.h b/target/i386/cpu.h
index 06b2e3a5c6..9284f96896 100644
--- a/target/i386/cpu.h
+++ b/target/i386/cpu.h
@@ -2118,6 +2118,11 @@ static inline bool cpu_has_vmx(CPUX86State *env)
     return env->features[FEAT_1_ECX] & CPUID_EXT_VMX;
 }
 
+static inline bool cpu_has_svm(CPUX86State *env)
+{
+    return env->features[FEAT_8000_0001_ECX] & CPUID_EXT3_SVM;
+}
+
 /*
  * In order for a vCPU to enter VMX operation it must have CR4.VMXE set.
  * Since it was set, CR4.VMXE must remain set as long as vCPU is in
diff --git a/target/i386/kvm.c b/target/i386/kvm.c
index 6adbff3d74..2b6b7443d2 100644
--- a/target/i386/kvm.c
+++ b/target/i386/kvm.c
@@ -1840,16 +1840,18 @@ int kvm_arch_init_vcpu(CPUState *cs)
     if (max_nested_state_len > 0) {
         assert(max_nested_state_len >= offsetof(struct kvm_nested_state, data));
 
-        if (cpu_has_vmx(env)) {
+        if (cpu_has_vmx(env) || cpu_has_svm(env)) {
             struct kvm_vmx_nested_state_hdr *vmx_hdr;
 
             env->nested_state = g_malloc0(max_nested_state_len);
             env->nested_state->size = max_nested_state_len;
             env->nested_state->format = KVM_STATE_NESTED_FORMAT_VMX;
 
-            vmx_hdr = &env->nested_state->hdr.vmx;
-            vmx_hdr->vmxon_pa = -1ull;
-            vmx_hdr->vmcs12_pa = -1ull;
+            if (cpu_has_vmx(env)) {
+                    vmx_hdr = &env->nested_state->hdr.vmx;
+                    vmx_hdr->vmxon_pa = -1ull;
+                    vmx_hdr->vmcs12_pa = -1ull;
+            }
         }
     }
 
@@ -3873,6 +3875,20 @@ static int kvm_put_nested_state(X86CPU *cpu)
         return 0;
     }
 
+    /*
+     * Copy flags that are affected by reset from env->hflags and env->hflags2.
+     */
+    if (env->hflags & HF_GUEST_MASK) {
+        env->nested_state->flags |= KVM_STATE_NESTED_GUEST_MODE;
+    } else {
+        env->nested_state->flags &= ~KVM_STATE_NESTED_GUEST_MODE;
+    }
+    if (env->hflags2 & HF2_GIF_MASK) {
+        env->nested_state->flags |= KVM_STATE_NESTED_GIF_SET;
+    } else {
+        env->nested_state->flags &= ~KVM_STATE_NESTED_GIF_SET;
+    }
+
     assert(env->nested_state->size <= max_nested_state_len);
     return kvm_vcpu_ioctl(CPU(cpu), KVM_SET_NESTED_STATE, env->nested_state);
 }
@@ -3901,11 +3917,19 @@ static int kvm_get_nested_state(X86CPU *cpu)
         return ret;
     }
 
+    /*
+     * Copy flags that are affected by reset to env->hflags and env->hflags2.
+     */
     if (env->nested_state->flags & KVM_STATE_NESTED_GUEST_MODE) {
         env->hflags |= HF_GUEST_MASK;
     } else {
         env->hflags &= ~HF_GUEST_MASK;
     }
+    if (env->nested_state->flags & KVM_STATE_NESTED_GIF_SET) {
+        env->hflags2 |= HF2_GIF_MASK;
+    } else {
+        env->hflags2 &= ~HF2_GIF_MASK;
+    }
 
     return ret;
 }
@@ -3917,6 +3941,12 @@ int kvm_arch_put_registers(CPUState *cpu, int level)
 
     assert(cpu_is_stopped(cpu) || qemu_cpu_is_self(cpu));
 
+    /* must be before kvm_put_nested_state so that EFER.SVME is set */
+    ret = kvm_put_sregs(x86_cpu);
+    if (ret < 0) {
+        return ret;
+    }
+
     if (level >= KVM_PUT_RESET_STATE) {
         ret = kvm_put_nested_state(x86_cpu);
         if (ret < 0) {
@@ -3950,10 +3980,6 @@ int kvm_arch_put_registers(CPUState *cpu, int level)
     if (ret < 0) {
         return ret;
     }
-    ret = kvm_put_sregs(x86_cpu);
-    if (ret < 0) {
-        return ret;
-    }
     /* must be before kvm_put_msrs */
     ret = kvm_inject_mce_oldstyle(x86_cpu);
     if (ret < 0) {
diff --git a/target/i386/machine.c b/target/i386/machine.c
index 0c96531a56..b1acf7d0ef 100644
--- a/target/i386/machine.c
+++ b/target/i386/machine.c
@@ -1071,13 +1071,41 @@ static const VMStateDescription vmstate_vmx_nested_state = {
     }
 };
 
+static bool svm_nested_state_needed(void *opaque)
+{
+    struct kvm_nested_state *nested_state = opaque;
+
+    /*
+     * HF_GUEST_MASK and HF2_GIF_MASK are already serialized
+     * via hflags and hflags2, all that's left is the opaque
+     * nested state blob.
+     */
+    return (nested_state->format == KVM_STATE_NESTED_FORMAT_SVM &&
+            nested_state->size > offsetof(struct kvm_nested_state, data));
+}
+
+static const VMStateDescription vmstate_svm_nested_state = {
+    .name = "cpu/kvm_nested_state/svm",
+    .version_id = 1,
+    .minimum_version_id = 1,
+    .needed = svm_nested_state_needed,
+    .fields = (VMStateField[]) {
+        VMSTATE_U64(hdr.svm.vmcb_pa, struct kvm_nested_state),
+        VMSTATE_UINT8_ARRAY(data.svm[0].vmcb12,
+                            struct kvm_nested_state,
+                            KVM_STATE_NESTED_SVM_VMCB_SIZE),
+        VMSTATE_END_OF_LIST()
+    }
+};
+
 static bool nested_state_needed(void *opaque)
 {
     X86CPU *cpu = opaque;
     CPUX86State *env = &cpu->env;
 
     return (env->nested_state &&
-            vmx_nested_state_needed(env->nested_state));
+            (vmx_nested_state_needed(env->nested_state) ||
+             svm_nested_state_needed(env->nested_state)));
 }
 
 static int nested_state_post_load(void *opaque, int version_id)
@@ -1139,6 +1167,7 @@ static const VMStateDescription vmstate_kvm_nested_state = {
     },
     .subsections = (const VMStateDescription*[]) {
         &vmstate_vmx_nested_state,
+        &vmstate_svm_nested_state,
         NULL
     }
 };
