diff --git a/arch/x86/kernel/kvm.c b/arch/x86/kernel/kvm.c
index b48ce07756ca..35b3c5836703 100644
--- a/arch/x86/kernel/kvm.c
+++ b/arch/x86/kernel/kvm.c
@@ -191,7 +191,7 @@ void kvm_async_pf_task_wake(u32 token)
 {
 	u32 key = hash_32(token, KVM_TASK_SLEEP_HASHBITS);
 	struct kvm_task_sleep_head *b = &async_pf_sleepers[key];
-	struct kvm_task_sleep_node *n;
+	struct kvm_task_sleep_node *n, *dummy = NULL;
 
 	if (token == ~0) {
 		apf_task_wake_all();
@@ -203,28 +203,41 @@ void kvm_async_pf_task_wake(u32 token)
 	n = _find_apf_task(b, token);
 	if (!n) {
 		/*
-		 * async PF was not yet handled.
-		 * Add dummy entry for the token.
+		 * Async #PF not yet handled, add a dummy entry for the token.
+		 * Allocating the token must be down outside of the raw lock
+		 * as the allocator is preemptible on PREEMPT_RT kernels.
 		 */
-		n = kzalloc(sizeof(*n), GFP_ATOMIC);
-		if (!n) {
-			/*
-			 * Allocation failed! Busy wait while other cpu
-			 * handles async PF.
-			 */
+		if (!dummy) {
 			raw_spin_unlock(&b->lock);
-			cpu_relax();
+			dummy = kzalloc(sizeof(*dummy), GFP_KERNEL);
+
+			/*
+			 * Continue looping on allocation failure, eventually
+			 * the async #PF will be handled and allocating a new
+			 * node will be unnecessary.
+			 */
+			if (!dummy)
+				cpu_relax();
+
+			/*
+			 * Recheck for async #PF completion before enqueueing
+			 * the dummy token to avoid duplicate list entries.
+			 */
 			goto again;
 		}
-		n->token = token;
-		n->cpu = smp_processor_id();
-		init_swait_queue_head(&n->wq);
-		hlist_add_head(&n->link, &b->list);
+		dummy->token = token;
+		dummy->cpu = smp_processor_id();
+		init_swait_queue_head(&dummy->wq);
+		hlist_add_head(&dummy->link, &b->list);
+		dummy = NULL;
 	} else {
 		apf_task_wake_one(n);
 	}
 	raw_spin_unlock(&b->lock);
-	return;
+
+	/* A dummy token might be allocated and ultimately not used.  */
+	if (dummy)
+		kfree(dummy);
 }
 EXPORT_SYMBOL_GPL(kvm_async_pf_task_wake);