diff --git a/drivers/net/phy/mdio_bus.c b/drivers/net/phy/mdio_bus.c
index 811a637695caf4270247cbace802bca469bc03e0..bb29ae3ff17dc6765fac1db21c532c1c5660b93c 100644
--- a/drivers/net/phy/mdio_bus.c
+++ b/drivers/net/phy/mdio_bus.c
@@ -21,6 +21,7 @@
 #include <linux/interrupt.h>
 #include <linux/init.h>
 #include <linux/delay.h>
+#include <linux/device.h>
 #include <linux/netdevice.h>
 #include <linux/etherdevice.h>
 #include <linux/skbuff.h>
@@ -286,33 +287,58 @@ static int mdio_bus_match(struct device *dev, struct device_driver *drv)
 		(phydev->phy_id & phydrv->phy_id_mask));
 }
 
+static bool mdio_bus_phy_may_suspend(struct phy_device *phydev)
+{
+	struct device_driver *drv = phydev->dev.driver;
+	struct phy_driver *phydrv = to_phy_driver(drv);
+	struct net_device *netdev = phydev->attached_dev;
+
+	if (!drv || !phydrv->suspend)
+		return false;
+
+	/* PHY not attached? May suspend. */
+	if (!netdev)
+		return true;
+
+	/*
+	 * Don't suspend PHY if the attched netdev parent may wakeup.
+	 * The parent may point to a PCI device, as in tg3 driver.
+	 */
+	if (netdev->dev.parent && device_may_wakeup(netdev->dev.parent))
+		return false;
+
+	/*
+	 * Also don't suspend PHY if the netdev itself may wakeup. This
+	 * is the case for devices w/o underlaying pwr. mgmt. aware bus,
+	 * e.g. SoC devices.
+	 */
+	if (device_may_wakeup(&netdev->dev))
+		return false;
+
+	return true;
+}
+
 /* Suspend and resume.  Copied from platform_suspend and
  * platform_resume
  */
 static int mdio_bus_suspend(struct device * dev, pm_message_t state)
 {
-	int ret = 0;
-	struct device_driver *drv = dev->driver;
-	struct phy_driver *phydrv = to_phy_driver(drv);
+	struct phy_driver *phydrv = to_phy_driver(dev->driver);
 	struct phy_device *phydev = to_phy_device(dev);
 
-	if (drv && phydrv->suspend && !device_may_wakeup(phydev->dev.parent))
-		ret = phydrv->suspend(phydev);
-
-	return ret;
+	if (!mdio_bus_phy_may_suspend(phydev))
+		return 0;
+	return phydrv->suspend(phydev);
 }
 
 static int mdio_bus_resume(struct device * dev)
 {
-	int ret = 0;
-	struct device_driver *drv = dev->driver;
-	struct phy_driver *phydrv = to_phy_driver(drv);
+	struct phy_driver *phydrv = to_phy_driver(dev->driver);
 	struct phy_device *phydev = to_phy_device(dev);
 
-	if (drv && phydrv->resume && !device_may_wakeup(phydev->dev.parent))
-		ret = phydrv->resume(phydev);
-
-	return ret;
+	if (!mdio_bus_phy_may_suspend(phydev))
+		return 0;
+	return phydrv->resume(phydev);
 }
 
 struct bus_type mdio_bus_type = {