diff --git a/arch/x86/kvm/svm.c b/arch/x86/kvm/svm.c
index c5120a9519f3..18190333bde9 100644
--- a/arch/x86/kvm/svm.c
+++ b/arch/x86/kvm/svm.c
@@ -4444,13 +4444,13 @@ static int wrmsr_interception(struct vcpu_svm *svm)
 	msr.index = ecx;
 	msr.host_initiated = false;
 
-	svm->next_rip = kvm_rip_read(&svm->vcpu) + 2;
 	if (kvm_set_msr(&svm->vcpu, &msr)) {
 		trace_kvm_msr_write_ex(ecx, data);
 		kvm_inject_gp(&svm->vcpu, 0);
 		return 1;
 	} else {
 		trace_kvm_msr_write(ecx, data);
+		svm->next_rip = kvm_rip_read(&svm->vcpu) + 2;
 		return kvm_skip_emulated_instruction(&svm->vcpu);
 	}
 }