diff --git a/tools/libs/guest/xg_cpuid_x86.c b/tools/libs/guest/xg_cpuid_x86.c
index 198892ebdf..3ffd5f683b 100644
--- a/tools/libs/guest/xg_cpuid_x86.c
+++ b/tools/libs/guest/xg_cpuid_x86.c
@@ -638,6 +638,13 @@ int xc_cpuid_apply_policy(xc_interface *xch, uint32_t domid, bool restore,
         }
     }
 
+    /*
+     * Do not try to shrink the policy if restoring, as that could cause
+     * guest visible changes in the maximum leaf fields.
+     */
+    if ( !restore )
+        x86_cpuid_policy_shrink_max_leaves(p);
+
     rc = x86_cpuid_copy_to_buffer(p, leaves, &nr_leaves);
     if ( rc )
     {
diff --git a/xen/arch/x86/cpuid.c b/xen/arch/x86/cpuid.c
index 2079a30ae4..8ac55f0806 100644
--- a/xen/arch/x86/cpuid.c
+++ b/xen/arch/x86/cpuid.c
@@ -719,8 +719,6 @@ void recalculate_cpuid_policy(struct domain *d)
 
     if ( !p->extd.page1gb )
         p->extd.raw[0x19] = EMPTY_LEAF;
-
-    x86_cpuid_policy_shrink_max_leaves(p);
 }
 
 int init_domain_cpuid_policy(struct domain *d)