diff --git a/arch/x86/kvm/emulate.c b/arch/x86/kvm/emulate.c
index 60c8dcb907a5..ea48a2fb1677 100644
--- a/arch/x86/kvm/emulate.c
+++ b/arch/x86/kvm/emulate.c
@@ -1714,11 +1714,6 @@ static int __load_segment_descriptor(struct x86_emulate_ctxt *ctxt,
 		goto exception;
 	}
 
-	if (!seg_desc.p) {
-		err_vec = (seg == VCPU_SREG_SS) ? SS_VECTOR : NP_VECTOR;
-		goto exception;
-	}
-
 	dpl = seg_desc.dpl;
 
 	switch (seg) {
@@ -1758,6 +1753,10 @@ static int __load_segment_descriptor(struct x86_emulate_ctxt *ctxt,
 	case VCPU_SREG_TR:
 		if (seg_desc.s || (seg_desc.type != 1 && seg_desc.type != 9))
 			goto exception;
+		if (!seg_desc.p) {
+			err_vec = NP_VECTOR;
+			goto exception;
+		}
 		old_desc = seg_desc;
 		seg_desc.type |= 2; /* busy */
 		ret = ctxt->ops->cmpxchg_emulated(ctxt, desc_addr, &old_desc, &seg_desc,
@@ -1782,6 +1781,11 @@ static int __load_segment_descriptor(struct x86_emulate_ctxt *ctxt,
 		break;
 	}
 
+	if (!seg_desc.p) {
+		err_vec = (seg == VCPU_SREG_SS) ? SS_VECTOR : NP_VECTOR;
+		goto exception;
+	}
+
 	if (seg_desc.s) {
 		/* mark segment as accessed */
 		if (!(seg_desc.type & 1)) {