diff --git a/xen/arch/x86/domain.c b/xen/arch/x86/domain.c
index b2127298800..a711ff2814a 100644
--- a/xen/arch/x86/domain.c
+++ b/xen/arch/x86/domain.c
@@ -2014,8 +2014,8 @@ void context_switch(struct vcpu *prev, struct vcpu *next)
     vpmu_switch_from(prev);
     np2m_schedule(NP2M_SCHEDLE_OUT);
 
-    if ( is_hvm_domain(prevd) && !list_empty(&prev->arch.hvm.tm_list) )
-        pt_save_timer(prev);
+    if ( is_hvm_domain(prevd) )
+        pt_freeze_time(prev);
 
     local_irq_disable();
 
diff --git a/xen/arch/x86/hvm/hvm.c b/xen/arch/x86/hvm/hvm.c
index 0279014e66e..3a72da67ef2 100644
--- a/xen/arch/x86/hvm/hvm.c
+++ b/xen/arch/x86/hvm/hvm.c
@@ -489,7 +489,6 @@ void hvm_set_info_guest(struct vcpu *v)
 void hvm_migrate_timers(struct vcpu *v)
 {
     rtc_migrate_timers(v);
-    pt_migrate(v);
 }
 
 void hvm_migrate_pirq(struct hvm_pirq_dpci *pirq_dpci, const struct vcpu *v)
@@ -544,7 +543,7 @@ void hvm_do_resume(struct vcpu *v)
 {
     check_wakeup_from_wait();
 
-    pt_restore_timer(v);
+    pt_thaw_time(v);
 
     if ( !vcpu_ioreq_handle_completion(v) )
         return;
@@ -1558,7 +1557,6 @@ int hvm_vcpu_initialise(struct vcpu *v)
     hvm_asid_flush_vcpu(v);
 
     spin_lock_init(&v->arch.hvm.tm_lock);
-    INIT_LIST_HEAD(&v->arch.hvm.tm_list);
 
     rc = hvm_vcpu_cacheattr_init(v); /* teardown: vcpu_cacheattr_destroy */
     if ( rc != 0 )
diff --git a/xen/arch/x86/hvm/vlapic.c b/xen/arch/x86/hvm/vlapic.c
index 63fa3780767..8091b6d8925 100644
--- a/xen/arch/x86/hvm/vlapic.c
+++ b/xen/arch/x86/hvm/vlapic.c
@@ -1339,7 +1339,6 @@ void vlapic_adjust_i8259_target(struct domain *d)
     if ( d->arch.hvm.i8259_target == v )
         return;
     d->arch.hvm.i8259_target = v;
-    pt_adjust_global_vcpu_target(v);
 }
 
 int vlapic_has_pending_irq(struct vcpu *v)
diff --git a/xen/arch/x86/hvm/vpt.c b/xen/arch/x86/hvm/vpt.c
index f951cd95bcf..84d49c1b25c 100644
--- a/xen/arch/x86/hvm/vpt.c
+++ b/xen/arch/x86/hvm/vpt.c
@@ -126,18 +126,6 @@ static int pt_irq_masked(struct periodic_time *pt)
     return 1;
 }
 
-static void pt_vcpu_lock(struct vcpu *v)
-{
-    read_lock(&v->domain->arch.hvm.pl_time->pt_migrate);
-    spin_lock(&v->arch.hvm.tm_lock);
-}
-
-static void pt_vcpu_unlock(struct vcpu *v)
-{
-    spin_unlock(&v->arch.hvm.tm_lock);
-    read_unlock(&v->domain->arch.hvm.pl_time->pt_migrate);
-}
-
 static void pt_lock(struct periodic_time *pt)
 {
     /*
@@ -151,7 +139,8 @@ static void pt_lock(struct periodic_time *pt)
 
 static void pt_unlock(struct periodic_time *pt)
 {
-    pt_vcpu_unlock(pt->vcpu);
+    spin_unlock(&pt->vcpu->arch.hvm.tm_lock);
+    read_unlock(&pt->vcpu->domain->arch.hvm.pl_time->pt_migrate);
 }
 
 static void pt_process_missed_ticks(struct periodic_time *pt)
@@ -166,14 +155,12 @@ static void pt_process_missed_ticks(struct periodic_time *pt)
         return;
 
     missed_ticks = missed_ticks / (s_time_t) pt->period + 1;
-    if ( mode_is(pt->vcpu->domain, no_missed_ticks_pending) )
-        pt->do_not_freeze = !pt->pending_intr_nr;
-    else
+    if ( !mode_is(pt->vcpu->domain, no_missed_ticks_pending) )
         pt->pending_intr_nr += missed_ticks;
     pt->scheduled += missed_ticks * pt->period;
 }
 
-static void pt_freeze_time(struct vcpu *v)
+void pt_freeze_time(struct vcpu *v)
 {
     if ( !mode_is(v->domain, delay_for_missed_ticks) )
         return;
@@ -181,7 +168,7 @@ static void pt_freeze_time(struct vcpu *v)
     v->arch.hvm.guest_time = hvm_get_guest_time(v);
 }
 
-static void pt_thaw_time(struct vcpu *v)
+void pt_thaw_time(struct vcpu *v)
 {
     if ( !mode_is(v->domain, delay_for_missed_ticks) )
         return;
@@ -193,52 +180,11 @@ static void pt_thaw_time(struct vcpu *v)
     v->arch.hvm.guest_time = 0;
 }
 
-void pt_save_timer(struct vcpu *v)
-{
-    struct list_head *head = &v->arch.hvm.tm_list;
-    struct periodic_time *pt;
-
-    if ( v->pause_flags & VPF_blocked )
-        return;
-
-    pt_vcpu_lock(v);
-
-    list_for_each_entry ( pt, head, list )
-        if ( !pt->do_not_freeze )
-            stop_timer(&pt->timer);
-
-    pt_freeze_time(v);
-
-    pt_vcpu_unlock(v);
-}
-
-void pt_restore_timer(struct vcpu *v)
-{
-    struct list_head *head = &v->arch.hvm.tm_list;
-    struct periodic_time *pt;
-
-    pt_vcpu_lock(v);
-
-    list_for_each_entry ( pt, head, list )
-        if ( pt->pending_intr_nr == 0 )
-            set_timer(&pt->timer, pt->scheduled);
-
-    pt_thaw_time(v);
-
-    pt_vcpu_unlock(v);
-}
-
 static void pt_irq_fired(struct vcpu *v, struct periodic_time *pt)
 {
-    pt->irq_issued = false;
-
     if ( pt->one_shot )
     {
-        if ( pt->on_list )
-            list_del(&pt->list);
-        pt->on_list = false;
         pt->pending_intr_nr = 0;
-
         return;
     }
 
@@ -252,7 +198,11 @@ static void pt_irq_fired(struct vcpu *v, struct periodic_time *pt)
         pt_process_missed_ticks(pt);
 
     if ( !pt->pending_intr_nr )
+    {
+        /* Make sure timer follows vCPU. */
+        migrate_timer(&pt->timer, current->processor);
         set_timer(&pt->timer, pt->scheduled);
+    }
 }
 
 static void pt_timer_fn(void *data)
@@ -268,21 +218,15 @@ static void pt_timer_fn(void *data)
     v = pt->vcpu;
     irq = pt->irq;
 
-    if ( inject_interrupt(pt) )
+    pt->scheduled += pt->period;
+
+    if ( !inject_interrupt(pt) )
+        pt->pending_intr_nr++;
+    else
     {
-        pt->scheduled += pt->period;
-        pt->do_not_freeze = 0;
         cb = pt->cb;
         cb_priv = pt->priv;
     }
-    else
-    {
-        /* Masked. */
-        if ( pt->on_list )
-            list_del(&pt->list);
-        pt->on_list = false;
-        pt->pending_intr_nr++;
-    }
 
     pt_unlock(pt);
 
@@ -304,22 +248,12 @@ static void eoi_callback(unsigned int unused, void *data)
     pt_lock(pt);
 
     pt_irq_fired(pt->vcpu, pt);
-    if ( pt->pending_intr_nr )
+    if ( pt->pending_intr_nr && inject_interrupt(pt) )
     {
-        if ( inject_interrupt(pt) )
-        {
-            pt->pending_intr_nr--;
-            cb = pt->cb;
-            cb_priv = pt->priv;
-            v = pt->vcpu;
-        }
-        else
-        {
-            /* Masked. */
-            if ( pt->on_list )
-                list_del(&pt->list);
-            pt->on_list = false;
-        }
+        pt->pending_intr_nr--;
+        cb = pt->cb;
+        cb_priv = pt->priv;
+        v = pt->vcpu;
     }
 
     pt_unlock(pt);
@@ -378,19 +312,6 @@ static bool inject_interrupt(struct periodic_time *pt)
     return true;
 }
 
-void pt_migrate(struct vcpu *v)
-{
-    struct list_head *head = &v->arch.hvm.tm_list;
-    struct periodic_time *pt;
-
-    pt_vcpu_lock(v);
-
-    list_for_each_entry ( pt, head, list )
-        migrate_timer(&pt->timer, v->processor);
-
-    pt_vcpu_unlock(v);
-}
-
 void create_periodic_time(
     struct vcpu *v, struct periodic_time *pt, uint64_t delta,
     uint64_t period, uint8_t irq, time_cb *cb, void *data, bool level)
@@ -410,8 +331,6 @@ void create_periodic_time(
     write_lock(&v->domain->arch.hvm.pl_time->pt_migrate);
 
     pt->pending_intr_nr = 0;
-    pt->do_not_freeze = 0;
-    pt->irq_issued = 0;
 
     /* Periodic timer must be at least 0.1ms. */
     if ( (period < 100000) && period )
@@ -469,9 +388,6 @@ void create_periodic_time(
         break;
     }
 
-    pt->on_list = 1;
-    list_add(&pt->list, &v->arch.hvm.tm_list);
-
     init_timer(&pt->timer, pt_timer_fn, pt, v->processor);
     set_timer(&pt->timer, pt->scheduled);
 
@@ -487,9 +403,6 @@ void destroy_periodic_time(struct periodic_time *pt)
         return;
 
     pt_lock(pt);
-    if ( pt->on_list )
-        list_del(&pt->list);
-    pt->on_list = 0;
     pt->pending_intr_nr = 0;
 
     gsi = pt->irq;
@@ -511,51 +424,6 @@ void destroy_periodic_time(struct periodic_time *pt)
     kill_timer(&pt->timer);
 }
 
-static void pt_adjust_vcpu(struct periodic_time *pt, struct vcpu *v)
-{
-    ASSERT(pt->source == PTSRC_isa || pt->source == PTSRC_ioapic);
-
-    if ( pt->vcpu == NULL )
-        return;
-
-    write_lock(&pt->vcpu->domain->arch.hvm.pl_time->pt_migrate);
-    pt->vcpu = v;
-    if ( pt->on_list )
-    {
-        list_del(&pt->list);
-        list_add(&pt->list, &v->arch.hvm.tm_list);
-        migrate_timer(&pt->timer, v->processor);
-    }
-    write_unlock(&pt->vcpu->domain->arch.hvm.pl_time->pt_migrate);
-}
-
-void pt_adjust_global_vcpu_target(struct vcpu *v)
-{
-    struct PITState *vpit;
-    struct pl_time *pl_time;
-    int i;
-
-    if ( !v || !has_vpit(v->domain) )
-        return;
-
-    vpit = &v->domain->arch.vpit;
-
-    spin_lock(&vpit->lock);
-    pt_adjust_vcpu(&vpit->pt0, v);
-    spin_unlock(&vpit->lock);
-
-    pl_time = v->domain->arch.hvm.pl_time;
-
-    spin_lock(&pl_time->vrtc.lock);
-    pt_adjust_vcpu(&pl_time->vrtc.pt, v);
-    spin_unlock(&pl_time->vrtc.lock);
-
-    write_lock(&pl_time->vhpet.lock);
-    for ( i = 0; i < HPET_TIMER_NUM; i++ )
-        pt_adjust_vcpu(&pl_time->vhpet.pt[i], v);
-    write_unlock(&pl_time->vhpet.lock);
-}
-
 static void pt_resume(struct periodic_time *pt)
 {
     struct vcpu *v;
@@ -566,14 +434,12 @@ static void pt_resume(struct periodic_time *pt)
         return;
 
     pt_lock(pt);
-    if ( pt->pending_intr_nr && !pt->on_list && inject_interrupt(pt) )
+    if ( pt->pending_intr_nr && inject_interrupt(pt) )
     {
         pt->pending_intr_nr--;
         cb = pt->cb;
         cb_priv = pt->priv;
         v = pt->vcpu;
-        pt->on_list = 1;
-        list_add(&pt->list, &pt->vcpu->arch.hvm.tm_list);
     }
     pt_unlock(pt);
 
diff --git a/xen/include/asm-x86/hvm/vcpu.h b/xen/include/asm-x86/hvm/vcpu.h
index 8adf4555c2a..9a756964fb0 100644
--- a/xen/include/asm-x86/hvm/vcpu.h
+++ b/xen/include/asm-x86/hvm/vcpu.h
@@ -148,9 +148,8 @@ struct hvm_vcpu {
     s64                 cache_tsc_offset;
     u64                 guest_time;
 
-    /* Lock and list for virtual platform timers. */
+    /* Lock for virtual platform timers. */
     spinlock_t          tm_lock;
-    struct list_head    tm_list;
 
     bool                flag_dr_dirty;
     bool                debug_state_latch;
diff --git a/xen/include/asm-x86/hvm/vpt.h b/xen/include/asm-x86/hvm/vpt.h
index 9440fe4ac7d..af04efa5e01 100644
--- a/xen/include/asm-x86/hvm/vpt.h
+++ b/xen/include/asm-x86/hvm/vpt.h
@@ -31,11 +31,7 @@
 typedef void time_cb(struct vcpu *v, void *opaque);
 
 struct periodic_time {
-    struct list_head list;
-    bool on_list;
     bool one_shot;
-    bool do_not_freeze;
-    bool irq_issued;
     bool warned_timeout_too_short;
     bool level;
 #define PTSRC_isa    1 /* ISA time source */
@@ -145,11 +141,9 @@ struct pl_time {    /* platform time */
     struct domain *domain;
 };
 
-void pt_save_timer(struct vcpu *v);
-void pt_restore_timer(struct vcpu *v);
-void pt_migrate(struct vcpu *v);
+void pt_freeze_time(struct vcpu *v);
+void pt_thaw_time(struct vcpu *v);
 
-void pt_adjust_global_vcpu_target(struct vcpu *v);
 #define pt_global_vcpu_target(d) \
     (is_hvm_domain(d) && (d)->arch.hvm.i8259_target ? \
      (d)->arch.hvm.i8259_target : \
@@ -158,7 +152,7 @@ void pt_adjust_global_vcpu_target(struct vcpu *v);
 void pt_may_unmask_irq(struct domain *d, struct periodic_time *vlapic_pt);
 
 /* Is given periodic timer active? */
-#define pt_active(pt) ((pt)->on_list || (pt)->pending_intr_nr)
+#define pt_active(pt) ((pt)->pending_intr_nr || timer_is_active(&(pt)->timer))
 
 /*
  * Create/destroy a periodic (or one-shot!) timer.
