diff --git a/arch/x86/kernel/asm-offsets.c b/arch/x86/kernel/asm-offsets.c
index 437308004ef2e4f1345947ce318c62bc56a6036f..cb50589a7102fa3825703d6a7a87c1d00b906149 100644
--- a/arch/x86/kernel/asm-offsets.c
+++ b/arch/x86/kernel/asm-offsets.c
@@ -19,6 +19,7 @@
 #include <asm/suspend.h>
 #include <asm/tlbflush.h>
 #include <asm/tdx.h>
+#include "../kvm/vmx/vmx.h"
 
 #ifdef CONFIG_XEN
 #include <xen/interface/xen.h>
@@ -107,4 +108,9 @@ static void __used common(void)
 	OFFSET(TSS_sp0, tss_struct, x86_tss.sp0);
 	OFFSET(TSS_sp1, tss_struct, x86_tss.sp1);
 	OFFSET(TSS_sp2, tss_struct, x86_tss.sp2);
+
+	if (IS_ENABLED(CONFIG_KVM_INTEL)) {
+		BLANK();
+		OFFSET(VMX_spec_ctrl, vcpu_vmx, spec_ctrl);
+	}
 }
diff --git a/arch/x86/kernel/cpu/bugs.c b/arch/x86/kernel/cpu/bugs.c
index fcbd072a5e36d529a25c6b3fb4c99f173cf6fb35..182f8b2e8a3c14acffff359e697eff23572d34ee 100644
--- a/arch/x86/kernel/cpu/bugs.c
+++ b/arch/x86/kernel/cpu/bugs.c
@@ -196,8 +196,8 @@ void __init check_bugs(void)
 }
 
 /*
- * NOTE: For VMX, this function is not called in the vmexit path.
- * It uses vmx_spec_ctrl_restore_host() instead.
+ * NOTE: This function is *only* called for SVM.  VMX spec_ctrl handling is
+ * done in vmenter.S.
  */
 void
 x86_virt_spec_ctrl(u64 guest_spec_ctrl, u64 guest_virt_spec_ctrl, bool setguest)
diff --git a/arch/x86/kvm/vmx/capabilities.h b/arch/x86/kvm/vmx/capabilities.h
index 3f430e2183753a5d594d8308a3d73477d921ebdc..c0e24826a86f718bcb7b2859dc8739c04d75d8a3 100644
--- a/arch/x86/kvm/vmx/capabilities.h
+++ b/arch/x86/kvm/vmx/capabilities.h
@@ -4,8 +4,8 @@
 
 #include <asm/vmx.h>
 
-#include "lapic.h"
-#include "x86.h"
+#include "../lapic.h"
+#include "../x86.h"
 
 extern bool __read_mostly enable_vpid;
 extern bool __read_mostly flexpriority_enabled;
diff --git a/arch/x86/kvm/vmx/vmenter.S b/arch/x86/kvm/vmx/vmenter.S
index 4c743fa98a1ff7ee465111c8fbcff55a7a16df9d..4182c7ffc90910a30a8e7f465cc44bfdc8b35d7a 100644
--- a/arch/x86/kvm/vmx/vmenter.S
+++ b/arch/x86/kvm/vmx/vmenter.S
@@ -1,9 +1,11 @@
 /* SPDX-License-Identifier: GPL-2.0 */
 #include <linux/linkage.h>
 #include <asm/asm.h>
+#include <asm/asm-offsets.h>
 #include <asm/bitsperlong.h>
 #include <asm/kvm_vcpu_regs.h>
 #include <asm/nospec-branch.h>
+#include <asm/percpu.h>
 #include <asm/segment.h>
 #include "run_flags.h"
 
@@ -73,6 +75,33 @@ SYM_FUNC_START(__vmx_vcpu_run)
 	lea (%_ASM_SP), %_ASM_ARG2
 	call vmx_update_host_rsp
 
+	ALTERNATIVE "jmp .Lspec_ctrl_done", "", X86_FEATURE_MSR_SPEC_CTRL
+
+	/*
+	 * SPEC_CTRL handling: if the guest's SPEC_CTRL value differs from the
+	 * host's, write the MSR.
+	 *
+	 * IMPORTANT: To avoid RSB underflow attacks and any other nastiness,
+	 * there must not be any returns or indirect branches between this code
+	 * and vmentry.
+	 */
+	mov 2*WORD_SIZE(%_ASM_SP), %_ASM_DI
+	movl VMX_spec_ctrl(%_ASM_DI), %edi
+	movl PER_CPU_VAR(x86_spec_ctrl_current), %esi
+	cmp %edi, %esi
+	je .Lspec_ctrl_done
+	mov $MSR_IA32_SPEC_CTRL, %ecx
+	xor %edx, %edx
+	mov %edi, %eax
+	wrmsr
+
+.Lspec_ctrl_done:
+
+	/*
+	 * Since vmentry is serializing on affected CPUs, there's no need for
+	 * an LFENCE to stop speculation from skipping the wrmsr.
+	 */
+
 	/* Load @regs to RAX. */
 	mov (%_ASM_SP), %_ASM_AX
 
diff --git a/arch/x86/kvm/vmx/vmx.c b/arch/x86/kvm/vmx/vmx.c
index 421db354b1ab01ca3342f20ff1b42ad888ecaf70..be7c19374fdd94d7347ea4c83588e9454e164530 100644
--- a/arch/x86/kvm/vmx/vmx.c
+++ b/arch/x86/kvm/vmx/vmx.c
@@ -6988,14 +6988,6 @@ static fastpath_t vmx_vcpu_run(struct kvm_vcpu *vcpu)
 
 	kvm_wait_lapic_expire(vcpu);
 
-	/*
-	 * If this vCPU has touched SPEC_CTRL, restore the guest's value if
-	 * it's non-zero. Since vmentry is serialising on affected CPUs, there
-	 * is no need to worry about the conditional branch over the wrmsr
-	 * being speculatively taken.
-	 */
-	x86_spec_ctrl_set_guest(vmx->spec_ctrl, 0);
-
 	/* The actual VMENTER/EXIT is in the .noinstr.text section. */
 	vmx_vcpu_enter_exit(vcpu, vmx, __vmx_vcpu_run_flags(vmx));
 
diff --git a/arch/x86/kvm/vmx/vmx.h b/arch/x86/kvm/vmx/vmx.h
index da654af12ccba93b110ff76a046ffcc89408edc1..1e7f9453894b1456984d51d4485307c2f3ffb876 100644
--- a/arch/x86/kvm/vmx/vmx.h
+++ b/arch/x86/kvm/vmx/vmx.h
@@ -8,11 +8,11 @@
 #include <asm/intel_pt.h>
 
 #include "capabilities.h"
-#include "kvm_cache_regs.h"
+#include "../kvm_cache_regs.h"
 #include "posted_intr.h"
 #include "vmcs.h"
 #include "vmx_ops.h"
-#include "cpuid.h"
+#include "../cpuid.h"
 #include "run_flags.h"
 
 #define MSR_TYPE_R	1
diff --git a/arch/x86/kvm/vmx/vmx_ops.h b/arch/x86/kvm/vmx/vmx_ops.h
index 5e7f4122578014a630b3ba99d82e464b6dd7bf7a..5cfc49ddb1b442801bf058779e86f0102a7536ec 100644
--- a/arch/x86/kvm/vmx/vmx_ops.h
+++ b/arch/x86/kvm/vmx/vmx_ops.h
@@ -8,7 +8,7 @@
 
 #include "evmcs.h"
 #include "vmcs.h"
-#include "x86.h"
+#include "../x86.h"
 
 asmlinkage void vmread_error(unsigned long field, bool fault);
 __attribute__((regparm(0))) void vmread_error_trampoline(unsigned long field,