diff --git a/tests/qemu-iotests/039.out b/tests/qemu-iotests/039.out
index 724d7b2..66d2159 100644
--- a/tests/qemu-iotests/039.out
+++ b/tests/qemu-iotests/039.out
@@ -11,11 +11,7 @@ No errors were found on the image.
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=134217728
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x1
 ERROR cluster 5 refcount=0 reference=1
 ERROR OFLAG_COPIED data cluster: l2_entry=8000000000050000 refcount=0
@@ -50,11 +46,7 @@ read 512/512 bytes at offset 0
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=134217728
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x1
 ERROR cluster 5 refcount=0 reference=1
 Rebuilding refcount structure
@@ -68,11 +60,7 @@ incompatible_features     0x0
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=134217728
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x0
 No errors were found on the image.
 
@@ -91,11 +79,7 @@ No errors were found on the image.
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=134217728
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x1
 ERROR cluster 5 refcount=0 reference=1
 ERROR OFLAG_COPIED data cluster: l2_entry=8000000000050000 refcount=0
@@ -105,11 +89,7 @@ Data may be corrupted, or further writes to the image may corrupt it.
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=134217728
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x0
 No errors were found on the image.
 *** done
diff --git a/tests/qemu-iotests/061.out b/tests/qemu-iotests/061.out
index 1aa7d37..346e654 100644
--- a/tests/qemu-iotests/061.out
+++ b/tests/qemu-iotests/061.out
@@ -118,11 +118,7 @@ No errors were found on the image.
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=67108864
 wrote 131072/131072 bytes at offset 0
 128 KiB, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 magic                     0x514649fb
 version                   3
 backing_file_offset       0x0
@@ -280,11 +276,7 @@ No errors were found on the image.
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=67108864
 wrote 131072/131072 bytes at offset 0
 128 KiB, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 magic                     0x514649fb
 version                   3
 backing_file_offset       0x0
diff --git a/tests/qemu-iotests/137.out b/tests/qemu-iotests/137.out
index 22d59df..225e6f6 100644
--- a/tests/qemu-iotests/137.out
+++ b/tests/qemu-iotests/137.out
@@ -35,11 +35,7 @@ Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=67108864
 qemu-io: Unsupported value 'blubb' for qcow2 option 'overlap-check'. Allowed are any of the following: none, constant, cached, all
 wrote 512/512 bytes at offset 0
 512 bytes, X ops; XX:XX:XX.X (XXX YYY/sec and XXX ops/sec)
-./common.rc: Killed                  ( if [ "${VALGRIND_QEMU}" == "y" ]; then
-    exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-else
-    exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@";
-fi )
+./common.rc: Killed                  ( VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@" )
 incompatible_features     0x0
 Formatting 'TEST_DIR/t.IMGFMT', fmt=IMGFMT size=67108864
 wrote 65536/65536 bytes at offset 0
diff --git a/tests/qemu-iotests/common.rc b/tests/qemu-iotests/common.rc
index 5502c3d..289686b 100644
--- a/tests/qemu-iotests/common.rc
+++ b/tests/qemu-iotests/common.rc
@@ -60,61 +60,132 @@ if ! . ./common.config
     exit 1
 fi
 
+# Unset the variables to turn Valgrind off for specific processes, e.g.
+# $ VALGRIND_QEMU_IO= ./check -qcow2 -valgrind 015
+
+: ${VALGRIND_QEMU_VM='y'}
+: ${VALGRIND_QEMU_IMG='y'}
+: ${VALGRIND_QEMU_IO='y'}
+: ${VALGRIND_QEMU_NBD='y'}
+: ${VALGRIND_QEMU_VXHS='y'}
+
+# The Valgrind own parameters may be set with
+# its environment variable VALGRIND_OPTS, e.g.
+# $ VALGRIND_OPTS="--leak-check=yes" ./check -qcow2 -valgrind 015
+
+_qemu_proc_exec()
+{
+    local VALGRIND_LOGFILE="$1"
+    shift
+    if [ "${VALGRIND_QEMU}" == "y" ]; then
+        exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$@"
+    else
+        exec "$@"
+    fi
+}
+
+_qemu_proc_valgrind_log()
+{
+    local VALGRIND_LOGFILE="$1"
+    local RETVAL="$2"
+    if [ "${VALGRIND_QEMU}" == "y" ]; then
+        if [ $RETVAL == 99 ]; then
+            cat "${VALGRIND_LOGFILE}"
+        fi
+        rm -f "${VALGRIND_LOGFILE}"
+    fi
+}
+
 _qemu_wrapper()
 {
+    local VALGRIND_LOGFILE="${TEST_DIR}"/$$.valgrind
+    local VALGRIND_ON="${VALGRIND_QEMU}"
+    if [ "${VALGRIND_QEMU_VM}" != "y" ]; then
+        VALGRIND_ON=''
+    fi
     (
         if [ -n "${QEMU_NEED_PID}" ]; then
             echo $BASHPID > "${QEMU_TEST_DIR}/qemu-${_QEMU_HANDLE}.pid"
         fi
-        exec "$QEMU_PROG" $QEMU_OPTIONS "$@"
+        VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" \
+            "$QEMU_PROG" $QEMU_OPTIONS "$@"
     )
+    RETVAL=$?
+    _qemu_proc_valgrind_log "${VALGRIND_LOGFILE}" $RETVAL
+    return $RETVAL
 }
 
 _qemu_img_wrapper()
 {
-    (exec "$QEMU_IMG_PROG" $QEMU_IMG_OPTIONS "$@")
+    local VALGRIND_LOGFILE="${TEST_DIR}"/$$.valgrind
+    local VALGRIND_ON="${VALGRIND_QEMU}"
+    if [ "${VALGRIND_QEMU_IMG}" != "y" ]; then
+        VALGRIND_ON=''
+    fi
+    (
+        VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" \
+            "$QEMU_IMG_PROG" $QEMU_IMG_OPTIONS "$@"
+    )
+    RETVAL=$?
+    _qemu_proc_valgrind_log "${VALGRIND_LOGFILE}" $RETVAL
+    return $RETVAL
 }
 
 _qemu_io_wrapper()
 {
     local VALGRIND_LOGFILE="${TEST_DIR}"/$$.valgrind
     local QEMU_IO_ARGS="$QEMU_IO_OPTIONS"
+    local VALGRIND_ON="${VALGRIND_QEMU}"
+    if [ "${VALGRIND_QEMU_IO}" != "y" ]; then
+        VALGRIND_ON=''
+    fi
     if [ "$IMGOPTSSYNTAX" = "true" ]; then
         QEMU_IO_ARGS="--image-opts $QEMU_IO_ARGS"
         if [ -n "$IMGKEYSECRET" ]; then
             QEMU_IO_ARGS="--object secret,id=keysec0,data=$IMGKEYSECRET $QEMU_IO_ARGS"
         fi
     fi
-    local RETVAL
     (
-        if [ "${VALGRIND_QEMU}" == "y" ]; then
-            exec valgrind --log-file="${VALGRIND_LOGFILE}" --error-exitcode=99 "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@"
-        else
-            exec "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@"
-        fi
+        VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" \
+            "$QEMU_IO_PROG" $QEMU_IO_ARGS "$@"
     )
     RETVAL=$?
-    if [ "${VALGRIND_QEMU}" == "y" ]; then
-        if [ $RETVAL == 99 ]; then
-            cat "${VALGRIND_LOGFILE}"
-        fi
-        rm -f "${VALGRIND_LOGFILE}"
-    fi
-    (exit $RETVAL)
+    _qemu_proc_valgrind_log "${VALGRIND_LOGFILE}" $RETVAL
+    return $RETVAL
 }
 
 _qemu_nbd_wrapper()
 {
-    "$QEMU_NBD_PROG" --pid-file="${QEMU_TEST_DIR}/qemu-nbd.pid" \
-                     $QEMU_NBD_OPTIONS "$@"
+    local VALGRIND_LOGFILE="${TEST_DIR}"/$$.valgrind
+    local VALGRIND_ON="${VALGRIND_QEMU}"
+    if [ "${VALGRIND_QEMU_NBD}" != "y" ]; then
+        VALGRIND_ON=''
+    fi
+    (
+        VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" \
+            "$QEMU_NBD_PROG" --pid-file="${QEMU_TEST_DIR}/qemu-nbd.pid" \
+             $QEMU_NBD_OPTIONS "$@"
+    )
+    RETVAL=$?
+    _qemu_proc_valgrind_log "${VALGRIND_LOGFILE}" $RETVAL
+    return $RETVAL
 }
 
 _qemu_vxhs_wrapper()
 {
+    local VALGRIND_LOGFILE="${TEST_DIR}"/$$.valgrind
+    local VALGRIND_ON="${VALGRIND_QEMU}"
+    if [ "${VALGRIND_QEMU_VXHS}" != "y" ]; then
+        VALGRIND_ON=''
+    fi
     (
         echo $BASHPID > "${TEST_DIR}/qemu-vxhs.pid"
-        exec "$QEMU_VXHS_PROG" $QEMU_VXHS_OPTIONS "$@"
+        VALGRIND_QEMU="${VALGRIND_ON}" _qemu_proc_exec "${VALGRIND_LOGFILE}" \
+            "$QEMU_VXHS_PROG" $QEMU_VXHS_OPTIONS "$@"
     )
+    RETVAL=$?
+    _qemu_proc_valgrind_log "${VALGRIND_LOGFILE}" $RETVAL
+    return $RETVAL
 }
 
 export QEMU=_qemu_wrapper
