diff --git a/arch/x86/kvm/svm/nested.c b/arch/x86/kvm/svm/nested.c
index fb46f90ae9af24e73ed0e90572123371a1d3700e..8453c898b68be1ffb74f85473ed7f9348dded905 100644
--- a/arch/x86/kvm/svm/nested.c
+++ b/arch/x86/kvm/svm/nested.c
@@ -1062,7 +1062,13 @@ static int svm_check_nested_events(struct kvm_vcpu *vcpu)
 	}
 
 	if (vcpu->arch.exception.pending) {
-		if (block_nested_events)
+		/*
+		 * Only a pending nested run can block a pending exception.
+		 * Otherwise an injected NMI/interrupt should either be
+		 * lost or delivered to the nested hypervisor in the EXITINTINFO
+		 * vmcb field, while delivering the pending exception.
+		 */
+		if (svm->nested.nested_run_pending)
                         return -EBUSY;
 		if (!nested_exit_on_exception(svm))
 			return 0;
diff --git a/arch/x86/kvm/vmx/nested.c b/arch/x86/kvm/vmx/nested.c
index fd334e4aa6dbacc664cb511376105f8a99efe47b..c3ba842fc07f3bf6a03247cc97d095d8acb0eda9 100644
--- a/arch/x86/kvm/vmx/nested.c
+++ b/arch/x86/kvm/vmx/nested.c
@@ -3806,9 +3806,15 @@ static int vmx_check_nested_events(struct kvm_vcpu *vcpu)
 
 	/*
 	 * Process any exceptions that are not debug traps before MTF.
+	 *
+	 * Note that only a pending nested run can block a pending exception.
+	 * Otherwise an injected NMI/interrupt should either be
+	 * lost or delivered to the nested hypervisor in the IDT_VECTORING_INFO,
+	 * while delivering the pending exception.
 	 */
+
 	if (vcpu->arch.exception.pending && !vmx_pending_dbg_trap(vcpu)) {
-		if (block_nested_events)
+		if (vmx->nested.nested_run_pending)
 			return -EBUSY;
 		if (!nested_vmx_check_exception(vcpu, &exit_qual))
 			goto no_vmexit;
@@ -3825,7 +3831,7 @@ static int vmx_check_nested_events(struct kvm_vcpu *vcpu)
 	}
 
 	if (vcpu->arch.exception.pending) {
-		if (block_nested_events)
+		if (vmx->nested.nested_run_pending)
 			return -EBUSY;
 		if (!nested_vmx_check_exception(vcpu, &exit_qual))
 			goto no_vmexit;