diff --git a/Makefile b/Makefile
index 662e31f549..9de4afb101 100644
--- a/Makefile
+++ b/Makefile
@@ -66,9 +66,13 @@ install-xen:
 	$(MAKE) -C xen install
 
 .PHONY: install-tools
-install-tools: tools/ioemu-dir
+install-tools:
 	$(MAKE) -C tools install
 
+ifeq ($(CONFIG_IOEMU),y)
+install-tools: tools/ioemu-dir
+endif
+
 .PHONY: install-kernels
 install-kernels:
 	for i in $(XKERNELS) ; do $(MAKE) $$i-install || exit 1; done