diff --git a/target/i386/cpu.c b/target/i386/cpu.c
index de1a469ae9..f538b54150 100644
--- a/target/i386/cpu.c
+++ b/target/i386/cpu.c
@@ -5293,15 +5293,6 @@ static void x86_cpu_realizefn(DeviceState *dev, Error **errp)
             uint32_t host_phys_bits = x86_host_phys_bits();
             static bool warned;
 
-            if (cpu->host_phys_bits) {
-                /* The user asked for us to use the host physical bits */
-                cpu->phys_bits = host_phys_bits;
-                if (cpu->host_phys_bits_limit &&
-                    cpu->phys_bits > cpu->host_phys_bits_limit) {
-                    cpu->phys_bits = cpu->host_phys_bits_limit;
-                }
-            }
-
             /* Print a warning if the user set it to a value that's not the
              * host value.
              */
@@ -5313,6 +5304,15 @@ static void x86_cpu_realizefn(DeviceState *dev, Error **errp)
                 warned = true;
             }
 
+            if (cpu->host_phys_bits) {
+                /* The user asked for us to use the host physical bits */
+                cpu->phys_bits = host_phys_bits;
+                if (cpu->host_phys_bits_limit &&
+                    cpu->phys_bits > cpu->host_phys_bits_limit) {
+                    cpu->phys_bits = cpu->host_phys_bits_limit;
+                }
+            }
+
             if (cpu->phys_bits &&
                 (cpu->phys_bits > TARGET_PHYS_ADDR_SPACE_BITS ||
                 cpu->phys_bits < 32)) {