diff --git a/xen/arch/x86/cpuid.c b/xen/arch/x86/cpuid.c
index 979dcf8164..a4a366ad84 100644
--- a/xen/arch/x86/cpuid.c
+++ b/xen/arch/x86/cpuid.c
@@ -541,6 +541,13 @@ static void __init calculate_hvm_max_policy(void)
          raw_cpuid_policy.basic.sep )
         __set_bit(X86_FEATURE_SEP, hvm_featureset);
 
+    /*
+     * VIRT_SSBD is exposed in the default policy as a result of
+     * VIRT_SC_MSR_HVM being set, it also needs exposing in the max policy.
+     */
+    if ( boot_cpu_has(X86_FEATURE_VIRT_SC_MSR_HVM) )
+        __set_bit(X86_FEATURE_VIRT_SSBD, hvm_featureset);
+
     /*
      * If Xen isn't virtualising MSR_SPEC_CTRL for HVM guests (functional
      * availability, or admin choice), hide the feature.
@@ -597,6 +604,13 @@ static void __init calculate_hvm_def_policy(void)
     guest_common_feature_adjustments(hvm_featureset);
     guest_common_default_feature_adjustments(hvm_featureset);
 
+    /*
+     * Only expose VIRT_SSBD if AMD_SSBD is not available, and thus
+     * VIRT_SC_MSR_HVM is set.
+     */
+    if ( boot_cpu_has(X86_FEATURE_VIRT_SC_MSR_HVM) )
+        __set_bit(X86_FEATURE_VIRT_SSBD, hvm_featureset);
+
     sanitise_featureset(hvm_featureset);
     cpuid_featureset_to_policy(hvm_featureset, p);
     recalculate_xstate(p);
diff --git a/xen/arch/x86/hvm/svm/entry.S b/xen/arch/x86/hvm/svm/entry.S
index 4ae55a2ef6..2f63a2e3c6 100644
--- a/xen/arch/x86/hvm/svm/entry.S
+++ b/xen/arch/x86/hvm/svm/entry.S
@@ -19,6 +19,8 @@
 
         .file "svm/entry.S"
 
+#include <xen/lib.h>
+
 #include <asm/asm_defns.h>
 #include <asm/page.h>
 
@@ -57,6 +59,9 @@ __UNLIKELY_END(nsvm_hap)
 
         clgi
 
+        ALTERNATIVE "", STR(call vmentry_virt_spec_ctrl), \
+                        X86_FEATURE_VIRT_SC_MSR_HVM
+
         /* WARNING! `ret`, `call *`, `jmp *` not safe beyond this point. */
         /* SPEC_CTRL_EXIT_TO_SVM       Req: b=curr %rsp=regs/cpuinfo, Clob: acd */
         .macro svm_vmentry_spec_ctrl
@@ -114,6 +119,9 @@ __UNLIKELY_END(nsvm_hap)
         ALTERNATIVE "", svm_vmexit_spec_ctrl, X86_FEATURE_SC_MSR_HVM
         /* WARNING! `ret`, `call *`, `jmp *` not safe before this point. */
 
+        ALTERNATIVE "", STR(call vmexit_virt_spec_ctrl), \
+                        X86_FEATURE_VIRT_SC_MSR_HVM
+
         stgi
 GLOBAL(svm_stgi_label)
         mov  %rsp,%rdi
diff --git a/xen/arch/x86/hvm/svm/svm.c b/xen/arch/x86/hvm/svm/svm.c
index 2455835eda..c4bdeaff52 100644
--- a/xen/arch/x86/hvm/svm/svm.c
+++ b/xen/arch/x86/hvm/svm/svm.c
@@ -52,6 +52,7 @@
 #include <asm/hvm/svm/svmdebug.h>
 #include <asm/hvm/svm/nestedsvm.h>
 #include <asm/hvm/nestedhvm.h>
+#include <asm/spec_ctrl.h>
 #include <asm/x86_emulate.h>
 #include <public/sched.h>
 #include <asm/hvm/vpt.h>
@@ -610,6 +611,16 @@ static void cf_check svm_cpuid_policy_changed(struct vcpu *v)
     svm_intercept_msr(v, MSR_SPEC_CTRL,
                       cp->extd.ibrs ? MSR_INTERCEPT_NONE : MSR_INTERCEPT_RW);
 
+    /*
+     * Always trap write accesses to VIRT_SPEC_CTRL in order to cache the guest
+     * setting and avoid having to perform a rdmsr on vmexit to get the guest
+     * setting even if VIRT_SSBD is offered to Xen itself.
+     */
+    svm_intercept_msr(v, MSR_VIRT_SPEC_CTRL,
+                      cp->extd.virt_ssbd && cpu_has_virt_ssbd &&
+                      !cpu_has_amd_ssbd ?
+                      MSR_INTERCEPT_WRITE : MSR_INTERCEPT_RW);
+
     /* Give access to MSR_PRED_CMD if the guest has been told about it. */
     svm_intercept_msr(v, MSR_PRED_CMD,
                       cp->extd.ibpb ? MSR_INTERCEPT_NONE : MSR_INTERCEPT_RW);
@@ -3105,6 +3116,30 @@ void svm_vmexit_handler(struct cpu_user_regs *regs)
     vmcb_set_vintr(vmcb, intr);
 }
 
+/* Called with GIF=0. */
+void vmexit_virt_spec_ctrl(void)
+{
+    unsigned int val = opt_ssbd ? SPEC_CTRL_SSBD : 0;
+
+    if ( val == current->arch.msrs->virt_spec_ctrl.raw )
+        return;
+
+    if ( cpu_has_virt_ssbd )
+        wrmsr(MSR_VIRT_SPEC_CTRL, val, 0);
+}
+
+/* Called with GIF=0. */
+void vmentry_virt_spec_ctrl(void)
+{
+    unsigned int val = current->arch.msrs->virt_spec_ctrl.raw;
+
+    if ( val == (opt_ssbd ? SPEC_CTRL_SSBD : 0) )
+        return;
+
+    if ( cpu_has_virt_ssbd )
+        wrmsr(MSR_VIRT_SPEC_CTRL, val, 0);
+}
+
 /*
  * Local variables:
  * mode: C
diff --git a/xen/arch/x86/include/asm/cpufeatures.h b/xen/arch/x86/include/asm/cpufeatures.h
index 7413febd7a..2240547b64 100644
--- a/xen/arch/x86/include/asm/cpufeatures.h
+++ b/xen/arch/x86/include/asm/cpufeatures.h
@@ -40,6 +40,7 @@ XEN_CPUFEATURE(SC_VERW_HVM,       X86_SYNTH(24)) /* VERW used by Xen for HVM */
 XEN_CPUFEATURE(SC_VERW_IDLE,      X86_SYNTH(25)) /* VERW used by Xen for idle */
 XEN_CPUFEATURE(XEN_SHSTK,         X86_SYNTH(26)) /* Xen uses CET Shadow Stacks */
 XEN_CPUFEATURE(XEN_IBT,           X86_SYNTH(27)) /* Xen uses CET Indirect Branch Tracking */
+XEN_CPUFEATURE(VIRT_SC_MSR_HVM,   X86_SYNTH(28)) /* MSR_VIRT_SPEC_CTRL exposed to HVM */
 
 /* Bug words follow the synthetic words. */
 #define X86_NR_BUG 1
diff --git a/xen/arch/x86/include/asm/msr.h b/xen/arch/x86/include/asm/msr.h
index ab6fbb5051..de18e90b2e 100644
--- a/xen/arch/x86/include/asm/msr.h
+++ b/xen/arch/x86/include/asm/msr.h
@@ -375,6 +375,16 @@ struct vcpu_msrs
      */
     uint32_t tsc_aux;
 
+    /*
+     * 0xc001011f - MSR_VIRT_SPEC_CTRL (if !X86_FEATURE_AMD_SSBD)
+     *
+     * AMD only. Guest selected value, context switched on guest VM
+     * entry/exit.
+     */
+    struct {
+        uint32_t raw;
+    } virt_spec_ctrl;
+
     /*
      * 0xc00110{27,19-1b} MSR_AMD64_DR{0-3}_ADDRESS_MASK
      *
diff --git a/xen/arch/x86/msr.c b/xen/arch/x86/msr.c
index 72c175fd8b..a1e268eea9 100644
--- a/xen/arch/x86/msr.c
+++ b/xen/arch/x86/msr.c
@@ -385,7 +385,10 @@ int guest_rdmsr(struct vcpu *v, uint32_t msr, uint64_t *val)
         if ( !cp->extd.virt_ssbd )
             goto gp_fault;
 
-        *val = msrs->spec_ctrl.raw & SPEC_CTRL_SSBD;
+        if ( cpu_has_amd_ssbd )
+            *val = msrs->spec_ctrl.raw & SPEC_CTRL_SSBD;
+        else
+            *val = msrs->virt_spec_ctrl.raw;
         break;
 
     case MSR_AMD64_DE_CFG:
@@ -678,10 +681,15 @@ int guest_wrmsr(struct vcpu *v, uint32_t msr, uint64_t val)
             goto gp_fault;
 
         /* Only supports SSBD bit, the rest are ignored. */
-        if ( val & SPEC_CTRL_SSBD )
-            msrs->spec_ctrl.raw |= SPEC_CTRL_SSBD;
+        if ( cpu_has_amd_ssbd )
+        {
+            if ( val & SPEC_CTRL_SSBD )
+                msrs->spec_ctrl.raw |= SPEC_CTRL_SSBD;
+            else
+                msrs->spec_ctrl.raw &= ~SPEC_CTRL_SSBD;
+        }
         else
-            msrs->spec_ctrl.raw &= ~SPEC_CTRL_SSBD;
+            msrs->virt_spec_ctrl.raw = val & SPEC_CTRL_SSBD;
         break;
 
     case MSR_AMD64_DE_CFG:
diff --git a/xen/arch/x86/spec_ctrl.c b/xen/arch/x86/spec_ctrl.c
index f338bfe292..0d5ec877d1 100644
--- a/xen/arch/x86/spec_ctrl.c
+++ b/xen/arch/x86/spec_ctrl.c
@@ -406,9 +406,12 @@ static void __init print_details(enum ind_thunk thunk, uint64_t caps)
            (boot_cpu_has(X86_FEATURE_SC_MSR_HVM) ||
             boot_cpu_has(X86_FEATURE_SC_RSB_HVM) ||
             boot_cpu_has(X86_FEATURE_MD_CLEAR)   ||
+            boot_cpu_has(X86_FEATURE_VIRT_SC_MSR_HVM) ||
             opt_eager_fpu)                           ? ""               : " None",
            boot_cpu_has(X86_FEATURE_SC_MSR_HVM)      ? " MSR_SPEC_CTRL" : "",
-           boot_cpu_has(X86_FEATURE_SC_MSR_HVM)      ? " MSR_VIRT_SPEC_CTRL" : "",
+           (boot_cpu_has(X86_FEATURE_SC_MSR_HVM) ||
+            boot_cpu_has(X86_FEATURE_VIRT_SC_MSR_HVM)) ? " MSR_VIRT_SPEC_CTRL"
+                                                       : "",
            boot_cpu_has(X86_FEATURE_SC_RSB_HVM)      ? " RSB"           : "",
            opt_eager_fpu                             ? " EAGER_FPU"     : "",
            boot_cpu_has(X86_FEATURE_MD_CLEAR)        ? " MD_CLEAR"      : "");
@@ -1069,6 +1072,10 @@ void __init init_speculation_mitigations(void)
             setup_force_cpu_cap(X86_FEATURE_SC_MSR_HVM);
     }
 
+    /* Support VIRT_SPEC_CTRL.SSBD if AMD_SSBD is not available. */
+    if ( opt_msr_sc_hvm && !cpu_has_amd_ssbd && cpu_has_virt_ssbd )
+        setup_force_cpu_cap(X86_FEATURE_VIRT_SC_MSR_HVM);
+
     /* If we have IBRS available, see whether we should use it. */
     if ( has_spec_ctrl && ibrs )
         default_xen_spec_ctrl |= SPEC_CTRL_IBRS;
