--- a/xen/arch/x86/hvm/svm/svm.c
+++ b/xen/arch/x86/hvm/svm/svm.c
@@ -595,6 +595,7 @@ static void svm_cpuid_policy_changed(str
     struct vmcb_struct *vmcb = svm->vmcb;
     const struct cpuid_policy *cp = v->domain->arch.cpuid;
     u32 bitmap = vmcb_get_exception_intercepts(vmcb);
+    unsigned int mode;
 
     if ( opt_hvm_fep ||
          (v->domain->arch.cpuid->x86_vendor != boot_cpu_data.x86_vendor) )
@@ -607,6 +608,17 @@ static void svm_cpuid_policy_changed(str
     /* 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);
+
+    /* Allow direct reads from APERF/MPERF if permitted by the policy. */
+    mode = cp->basic.raw[6].c & CPUID6_ECX_APERFMPERF_CAPABILITY
+           ? MSR_INTERCEPT_WRITE : MSR_INTERCEPT_RW;
+    svm_intercept_msr(v, MSR_IA32_APERF, mode);
+    svm_intercept_msr(v, MSR_IA32_MPERF, mode);
+
+    /* Allow direct access to their r/o counterparts if permitted. */
+    mode = cp->extd.efro ? MSR_INTERCEPT_NONE : MSR_INTERCEPT_RW;
+    svm_intercept_msr(v, MSR_APERF_RD_ONLY, mode);
+    svm_intercept_msr(v, MSR_MPERF_RD_ONLY, mode);
 }
 
 void svm_sync_vmcb(struct vcpu *v, enum vmcb_sync_state new_state)
@@ -860,7 +872,10 @@ static void svm_set_rdtsc_exiting(struct
     {
         general1_intercepts |= GENERAL1_INTERCEPT_RDTSC;
         general2_intercepts |= GENERAL2_INTERCEPT_RDTSCP;
+        svm_enable_intercept_for_msr(v, MSR_IA32_TSC);
     }
+    else
+        svm_intercept_msr(v, MSR_IA32_TSC, MSR_INTERCEPT_WRITE);
 
     vmcb_set_general1_intercepts(vmcb, general1_intercepts);
     vmcb_set_general2_intercepts(vmcb, general2_intercepts);
--- a/xen/arch/x86/hvm/svm/vmcb.c
+++ b/xen/arch/x86/hvm/svm/vmcb.c
@@ -108,6 +108,7 @@ static int construct_vmcb(struct vcpu *v
     {
         vmcb->_general1_intercepts |= GENERAL1_INTERCEPT_RDTSC;
         vmcb->_general2_intercepts |= GENERAL2_INTERCEPT_RDTSCP;
+        svm_intercept_msr(v, MSR_IA32_TSC, MSR_INTERCEPT_WRITE);
     }
 
     /* Guest segment limits. */
--- a/xen/arch/x86/hvm/vmx/vmcs.c
+++ b/xen/arch/x86/hvm/vmx/vmcs.c
@@ -1140,8 +1140,13 @@ static int construct_vmcs(struct vcpu *v
         vmx_clear_msr_intercept(v, MSR_IA32_SYSENTER_CS, VMX_MSR_RW);
         vmx_clear_msr_intercept(v, MSR_IA32_SYSENTER_ESP, VMX_MSR_RW);
         vmx_clear_msr_intercept(v, MSR_IA32_SYSENTER_EIP, VMX_MSR_RW);
+
+        if ( !(v->arch.hvm.vmx.exec_control & CPU_BASED_RDTSC_EXITING) )
+            vmx_clear_msr_intercept(v, MSR_IA32_TSC, VMX_MSR_R);
+
         if ( paging_mode_hap(d) && (!is_iommu_enabled(d) || iommu_snoop) )
             vmx_clear_msr_intercept(v, MSR_IA32_CR_PAT, VMX_MSR_RW);
+
         if ( (vmexit_ctl & VM_EXIT_CLEAR_BNDCFGS) &&
              (vmentry_ctl & VM_ENTRY_LOAD_BNDCFGS) )
             vmx_clear_msr_intercept(v, MSR_IA32_BNDCFGS, VMX_MSR_RW);
--- a/xen/arch/x86/hvm/vmx/vmx.c
+++ b/xen/arch/x86/hvm/vmx/vmx.c
@@ -584,6 +584,18 @@ static void vmx_cpuid_policy_changed(str
         vmx_clear_msr_intercept(v, MSR_FLUSH_CMD, VMX_MSR_RW);
     else
         vmx_set_msr_intercept(v, MSR_FLUSH_CMD, VMX_MSR_RW);
+
+    /* Allow direct reads from APERF/MPERF if permitted by the policy. */
+    if ( cp->basic.raw[6].c & CPUID6_ECX_APERFMPERF_CAPABILITY )
+    {
+        vmx_clear_msr_intercept(v, MSR_IA32_APERF, VMX_MSR_R);
+        vmx_clear_msr_intercept(v, MSR_IA32_MPERF, VMX_MSR_R);
+    }
+    else
+    {
+        vmx_set_msr_intercept(v, MSR_IA32_APERF, VMX_MSR_R);
+        vmx_set_msr_intercept(v, MSR_IA32_MPERF, VMX_MSR_R);
+    }
 }
 
 int vmx_guest_x86_mode(struct vcpu *v)
@@ -1249,7 +1261,12 @@ static void vmx_set_rdtsc_exiting(struct
     vmx_vmcs_enter(v);
     v->arch.hvm.vmx.exec_control &= ~CPU_BASED_RDTSC_EXITING;
     if ( enable )
+    {
         v->arch.hvm.vmx.exec_control |= CPU_BASED_RDTSC_EXITING;
+        vmx_set_msr_intercept(v, MSR_IA32_TSC, VMX_MSR_R);
+    }
+    else
+        vmx_clear_msr_intercept(v, MSR_IA32_TSC, VMX_MSR_R);
     vmx_update_cpu_exec_control(v);
     vmx_vmcs_exit(v);
 }
--- a/xen/include/public/arch-x86/cpufeatureset.h
+++ b/xen/include/public/arch-x86/cpufeatureset.h
@@ -242,7 +242,7 @@ XEN_CPUFEATURE(MOVDIR64B,     6*32+28) /
 
 /* AMD-defined CPU features, CPUID level 0x80000007.edx, word 7 */
 XEN_CPUFEATURE(ITSC,          7*32+ 8) /*   Invariant TSC */
-XEN_CPUFEATURE(EFRO,          7*32+10) /*   APERF/MPERF Read Only interface */
+XEN_CPUFEATURE(EFRO,          7*32+10) /*S  APERF/MPERF Read Only interface */
 
 /* AMD-defined CPU features, CPUID level 0x80000008.ebx, word 8 */
 XEN_CPUFEATURE(CLZERO,        8*32+ 0) /*A  CLZERO instruction */
