diff --git a/arch/mips/kvm/emulate.c b/arch/mips/kvm/emulate.c
index 396df6eb0a12d..52bec0fe2fbb0 100644
--- a/arch/mips/kvm/emulate.c
+++ b/arch/mips/kvm/emulate.c
@@ -1666,7 +1666,7 @@ enum emulation_result kvm_mips_emulate_cache(uint32_t inst, uint32_t *opc,
 			cache, op, base, arch->gprs[base], offset);
 		er = EMULATE_FAIL;
 		preempt_enable();
-		goto dont_update_pc;
+		goto done;
 
 	}
 
@@ -1694,16 +1694,20 @@ enum emulation_result kvm_mips_emulate_cache(uint32_t inst, uint32_t *opc,
 		kvm_err("NO-OP CACHE (cache: %#x, op: %#x, base[%d]: %#lx, offset: %#x\n",
 			cache, op, base, arch->gprs[base], offset);
 		er = EMULATE_FAIL;
-		preempt_enable();
-		goto dont_update_pc;
 	}
 
 	preempt_enable();
+done:
+	/* Rollback PC only if emulation was unsuccessful */
+	if (er == EMULATE_FAIL)
+		vcpu->arch.pc = curr_pc;
 
 dont_update_pc:
-	/* Rollback PC */
-	vcpu->arch.pc = curr_pc;
-done:
+	/*
+	 * This is for exceptions whose emulation updates the PC, so do not
+	 * overwrite the PC under any circumstances
+	 */
+
 	return er;
 }