diff --git a/arch/powerpc/kvm/book3s_hv.c b/arch/powerpc/kvm/book3s_hv.c
index b2b29d4f984287..d56eded4a0916e 100644
--- a/arch/powerpc/kvm/book3s_hv.c
+++ b/arch/powerpc/kvm/book3s_hv.c
@@ -4048,16 +4048,20 @@ int kvmhv_run_single_vcpu(struct kvm_run *kvm_run,
 	if (cpu_has_feature(CPU_FTR_HVMODE))
 		kvmppc_radix_check_need_tlb_flush(kvm, pcpu, nested);
 
-	trace_hardirqs_on();
 	guest_enter_irqoff();
 
 	srcu_idx = srcu_read_lock(&kvm->srcu);
 
 	this_cpu_disable_ftrace();
 
+	/* Tell lockdep that we're about to enable interrupts */
+	trace_hardirqs_on();
+
 	trap = kvmhv_p9_guest_entry(vcpu, time_limit, lpcr);
 	vcpu->arch.trap = trap;
 
+	trace_hardirqs_off();
+
 	this_cpu_enable_ftrace();
 
 	srcu_read_unlock(&kvm->srcu, srcu_idx);
@@ -4067,7 +4071,6 @@ int kvmhv_run_single_vcpu(struct kvm_run *kvm_run,
 		isync();
 	}
 
-	trace_hardirqs_off();
 	set_irq_happened(trap);
 
 	kvmppc_set_host_core(pcpu);