diff --git a/arch/x86/kvm/svm/sev.c b/arch/x86/kvm/svm/sev.c
index 9a1fa28443ae..d08d5e085649 100644
--- a/arch/x86/kvm/svm/sev.c
+++ b/arch/x86/kvm/svm/sev.c
@@ -2951,9 +2951,12 @@ static void sev_es_init_vmcb(struct vcpu_svm *svm)
 	/*
 	 * An SEV-ES guest requires a VMSA area that is a separate from the
 	 * VMCB page. Do not include the encryption mask on the VMSA physical
-	 * address since hardware will access it using the guest key.
+	 * address since hardware will access it using the guest key.  Note,
+	 * the VMSA will be NULL if this vCPU is the destination for intrahost
+	 * migration, and will be copied later.
 	 */
-	svm->vmcb->control.vmsa_pa = __pa(svm->sev_es.vmsa);
+	if (svm->sev_es.vmsa)
+		svm->vmcb->control.vmsa_pa = __pa(svm->sev_es.vmsa);
 
 	/* Can't intercept CR register access, HV can't modify CR registers */
 	svm_clr_intercept(svm, INTERCEPT_CR0_READ);