Index: /trunk/src/VBox/HostDrivers/Support/SUPDrv.c
===================================================================
--- /trunk/src/VBox/HostDrivers/Support/SUPDrv.c	(revision 50332)
+++ /trunk/src/VBox/HostDrivers/Support/SUPDrv.c	(revision 50333)
@@ -3449,5 +3449,5 @@
                     if (fInSmxMode && !fSmxVmxAllowed)
                         rc = VERR_VMX_MSR_SMX_VMXON_DISABLED;
-                    else if (!fVmxAllowed)
+                    else if (!fInSmxMode && !fVmxAllowed)
                         rc = VERR_VMX_MSR_VMXON_DISABLED;
                     else
Index: /trunk/src/VBox/VMM/VMMR0/HMR0.cpp
===================================================================
--- /trunk/src/VBox/VMM/VMMR0/HMR0.cpp	(revision 50332)
+++ /trunk/src/VBox/VMM/VMMR0/HMR0.cpp	(revision 50333)
@@ -809,5 +809,5 @@
         if (fInSmxMode && !fSmxVmxAllowed)
             rc = VERR_VMX_MSR_SMX_VMXON_DISABLED;
-        else if (!fVmxAllowed)
+        else if (!fInSmxMode && !fVmxAllowed)
             rc = VERR_VMX_MSR_VMXON_DISABLED;
         else