diff --git a/arch/x86/kvm/svm/svm.c b/arch/x86/kvm/svm/svm.c
index d515c8e68314..7773a765f548 100644
--- a/arch/x86/kvm/svm/svm.c
+++ b/arch/x86/kvm/svm/svm.c
@@ -4103,6 +4103,10 @@ static bool svm_can_emulate_instruction(struct kvm_vcpu *vcpu, void *insn, int i
 	bool smep, smap, is_user;
 	unsigned long cr4;
 
+	/* Emulation is always possible when KVM has access to all guest state. */
+	if (!sev_guest(vcpu->kvm))
+		return true;
+
 	/*
 	 * Detect and workaround Errata 1096 Fam_17h_00_0Fh.
 	 *
@@ -4151,9 +4155,6 @@ static bool svm_can_emulate_instruction(struct kvm_vcpu *vcpu, void *insn, int i
 	smap = cr4 & X86_CR4_SMAP;
 	is_user = svm_get_cpl(vcpu) == 3;
 	if (smap && (!smep || is_user)) {
-		if (!sev_guest(vcpu->kvm))
-			return true;
-
 		pr_err_ratelimited("KVM: SEV Guest triggered AMD Erratum 1096\n");
 
 		/*