Index: /trunk/src/VBox/VMM/VMMR3/PGMPhys.cpp
===================================================================
--- /trunk/src/VBox/VMM/VMMR3/PGMPhys.cpp	(revision 92517)
+++ /trunk/src/VBox/VMM/VMMR3/PGMPhys.cpp	(revision 92518)
@@ -2853,5 +2853,5 @@
         if (   (fFlags & PGMPHYS_MMIO2_FLAGS_TRACK_DIRTY_PAGES)
 #ifdef VBOX_WITH_PGM_NEM_MODE
-            && !NEMR3IsMmio2DirtyPageTrackingSupported(pVM)
+            && (!VM_IS_NEM_ENABLED(pVM) || !NEMR3IsMmio2DirtyPageTrackingSupported(pVM))
 #endif
             )