diff --git a/main-loop.c b/main-loop.c
index 1c38ea2b9397550b460acd46955f42bae5989d37..c3c9c28fbab786e0c50a5d1882d155680f0d46b9 100644
--- a/main-loop.c
+++ b/main-loop.c
@@ -466,8 +466,7 @@ int main_loop_wait(int nonblocking)
     g_array_set_size(gpollfds, 0); /* reset for new iteration */
     /* XXX: separate device handlers from system ones */
 #ifdef CONFIG_SLIRP
-    slirp_update_timeout(&timeout);
-    slirp_pollfds_fill(gpollfds);
+    slirp_pollfds_fill(gpollfds, &timeout);
 #endif
     qemu_iohandler_fill(gpollfds);
 
diff --git a/slirp/libslirp.h b/slirp/libslirp.h
index ceabff81b2cc85f4453a262ddb0a6285bd2aac33..5bdcbd50f7ec4acc41b4017d8f538d2f3127a4b2 100644
--- a/slirp/libslirp.h
+++ b/slirp/libslirp.h
@@ -16,8 +16,7 @@ Slirp *slirp_init(int restricted, struct in_addr vnetwork,
                   void *opaque);
 void slirp_cleanup(Slirp *slirp);
 
-void slirp_update_timeout(uint32_t *timeout);
-void slirp_pollfds_fill(GArray *pollfds);
+void slirp_pollfds_fill(GArray *pollfds, uint32_t *timeout);
 
 void slirp_pollfds_poll(GArray *pollfds, int select_error);
 
diff --git a/slirp/slirp.c b/slirp/slirp.c
index 23e60a0923738515ad7d5000583e085df1356321..fe16367db894a91951e0931069fb3466aaa48770 100644
--- a/slirp/slirp.c
+++ b/slirp/slirp.c
@@ -262,14 +262,33 @@ void slirp_cleanup(Slirp *slirp)
 #define CONN_CANFSEND(so) (((so)->so_state & (SS_FCANTSENDMORE|SS_ISFCONNECTED)) == SS_ISFCONNECTED)
 #define CONN_CANFRCV(so) (((so)->so_state & (SS_FCANTRCVMORE|SS_ISFCONNECTED)) == SS_ISFCONNECTED)
 
-void slirp_update_timeout(uint32_t *timeout)
+static void slirp_update_timeout(uint32_t *timeout)
 {
-    if (!QTAILQ_EMPTY(&slirp_instances)) {
-        *timeout = MIN(TIMEOUT_DEFAULT, *timeout);
+    Slirp *slirp;
+    uint32_t t;
+
+    if (*timeout <= TIMEOUT_FAST) {
+        return;
+    }
+    *timeout = MIN(1000, *timeout);
+    t = *timeout;
+
+    /* If we have tcp timeout with slirp, then we will fill @timeout with
+     * more precise value.
+     */
+    QTAILQ_FOREACH(slirp, &slirp_instances, entry) {
+        if (slirp->time_fasttimo) {
+            *timeout = TIMEOUT_FAST;
+            return;
+        }
+        if (slirp->do_slowtimo) {
+            t = MIN(TIMEOUT_SLOW, t);
+        }
     }
+    *timeout = t;
 }
 
-void slirp_pollfds_fill(GArray *pollfds)
+void slirp_pollfds_fill(GArray *pollfds, uint32_t *timeout)
 {
     Slirp *slirp;
     struct socket *so, *so_next;
@@ -439,6 +458,7 @@ void slirp_pollfds_fill(GArray *pollfds)
             }
         }
     }
+    slirp_update_timeout(timeout);
 }
 
 void slirp_pollfds_poll(GArray *pollfds, int select_error)
diff --git a/stubs/slirp.c b/stubs/slirp.c
index f1fc833f7aa9e981e2b9913e87bff2749af5f8a9..bd0ac7f27de4374c447f983cea8ebd2209e20fff 100644
--- a/stubs/slirp.c
+++ b/stubs/slirp.c
@@ -1,11 +1,7 @@
 #include "qemu-common.h"
 #include "slirp/slirp.h"
 
-void slirp_update_timeout(uint32_t *timeout)
-{
-}
-
-void slirp_pollfds_fill(GArray *pollfds)
+void slirp_pollfds_fill(GArray *pollfds, uint32_t *timeout)
 {
 }