Index: /trunk/src/VBox/VMM/VMMR3/TM.cpp
===================================================================
--- /trunk/src/VBox/VMM/VMMR3/TM.cpp	(revision 53325)
+++ /trunk/src/VBox/VMM/VMMR3/TM.cpp	(revision 53326)
@@ -352,5 +352,6 @@
          * without any kind of coordination) it will lead to inconsistent TSC
          * behavior with guest SMP, including TSC going backwards. */
-        if (pVM->cCpus != 1)
+        if (   pVM->cCpus != 1
+            && !pVM->tm.s.fTSCUseRealTSC)
             pVM->tm.s.fMaybeUseOffsettedHostTSC = false;
     }