Index: sys/amd64/vmm/intel/vmx.c
===================================================================
--- sys/amd64/vmm/intel/vmx.c	(revision 265407)
+++ sys/amd64/vmm/intel/vmx.c	(working copy)
@@ -1894,11 +1894,6 @@
 		vmexit->u.inout.rep = (qual & 0x20) ? 1 : 0;
 		vmexit->u.inout.port = (uint16_t)(qual >> 16);
 		vmexit->u.inout.eax = (uint32_t)(vmxctx->guest_rax);
-		error = emulate_ioport(vmx->vm, vcpu, vmexit);
-		if (error == 0)  {
-			handled = 1;
-			vmxctx->guest_rax = vmexit->u.inout.eax;
-		}
 		break;
 	case EXIT_REASON_CPUID:
 		vmm_stat_incr(vmx->vm, vcpu, VMEXIT_CPUID, 1);
Index: sys/amd64/vmm/vmm.c
===================================================================
--- sys/amd64/vmm/vmm.c	(revision 265407)
+++ sys/amd64/vmm/vmm.c	(working copy)
@@ -63,6 +63,7 @@
 #include <machine/vmm.h>
 #include <machine/vmm_dev.h>
 
+#include "vmm_ioport.h"
 #include "vmm_ktr.h"
 #include "vmm_host.h"
 #include "vmm_mem.h"
@@ -1348,6 +1349,9 @@
 		case VM_EXITCODE_INST_EMUL:
 			error = vm_handle_inst_emul(vm, vcpuid, &retu);
 			break;
+		case VM_EXITCODE_INOUT:
+			error = emulate_ioport(vm, vcpuid, vme, &retu);
+			break;
 		default:
 			retu = true;	/* handled in userland */
 			break;
Index: sys/amd64/vmm/vmm_ioport.c
===================================================================
--- sys/amd64/vmm/vmm_ioport.c	(revision 265407)
+++ sys/amd64/vmm/vmm_ioport.c	(working copy)
@@ -38,6 +38,7 @@
 #include "vatpic.h"
 #include "vatpit.h"
 #include "vmm_ioport.h"
+#include "vmm_ktr.h"
 
 #define	MAX_IOPORTS		1280
 
@@ -55,19 +56,63 @@
 	[IO_ELCR2] = vatpic_elc_handler,
 };
 
+#ifdef KTR
+static const char *
+inout_instruction(struct vm_exit *vmexit)
+{
+	int index;
+
+	static const char *iodesc[] = {
+		"outb", "outw", "outl",
+		"inb", "inw", "inl",
+		"outsb", "outsw", "outsd"
+		"insb", "insw", "insd",
+	};
+
+	KASSERT(vmexit->exitcode == VM_EXITCODE_INOUT,
+	    ("%s: invalid exitcode %d", __func__, vmexit->exitcode));
+
+	switch (vmexit->u.inout.bytes) {
+	case 1:
+		index = 0;
+		break;
+	case 2:
+		index = 1;
+		break;
+	default:
+		index = 2;
+		break;
+	}
+
+	if (vmexit->u.inout.in)
+		index += 3;
+
+	if (vmexit->u.inout.string)
+		index += 6;
+
+	KASSERT(index < nitems(iodesc), ("%s: invalid index %d",
+	    __func__, index));
+
+	return (iodesc[index]);
+}
+#endif
+
 int
-emulate_ioport(struct vm *vm, int vcpuid, struct vm_exit *vmexit)
+emulate_ioport(struct vm *vm, int vcpuid, struct vm_exit *vmexit, bool *retu)
 {
 	ioport_handler_func_t handler;
 	uint32_t mask, val;
 	int error;
 
+	error = 0;
+	*retu = true;
+
 	if (vmexit->u.inout.port >= MAX_IOPORTS)
-		return (-1);
+		goto done;
 
 	handler = ioport_handler[vmexit->u.inout.port];
 	if (handler == NULL)
-		return (-1);
+		goto done;
 
 	switch (vmexit->u.inout.bytes) {
 	case 1:
@@ -88,10 +133,24 @@
 	error = (*handler)(vm, vcpuid, vmexit->u.inout.in,
 	    vmexit->u.inout.port, vmexit->u.inout.bytes, &val);
 
-	if (!error && vmexit->u.inout.in) {
-		vmexit->u.inout.eax &= ~mask;
-		vmexit->u.inout.eax |= val & mask;
+	if (!error) {
+		*retu = false;
+		if (vmexit->u.inout.in) {
+			vmexit->u.inout.eax &= ~mask;
+			vmexit->u.inout.eax |= val & mask;
+			error = vm_set_register(vm, vcpuid,
+			    VM_REG_GUEST_RAX, vmexit->u.inout.eax);
+			KASSERT(error == 0, ("emulate_ioport: error %d "
+			    "setting guest rax register", error));
+		}
 	}
 
+done:
+	VCPU_CTR4(vm, vcpuid, "%s%s 0x%04x: %s",
+	    vmexit->u.inout.rep ? "rep " : "",
+	    inout_instruction(vmexit),
+	    vmexit->u.inout.port,
+	    error ? "error" : (*retu ? "userspace" : "handled"));
+
 	return (error);
 }
Index: sys/amd64/vmm/vmm_ioport.h
===================================================================
--- sys/amd64/vmm/vmm_ioport.h	(revision 265407)
+++ sys/amd64/vmm/vmm_ioport.h	(working copy)
@@ -32,6 +32,6 @@
 typedef int (*ioport_handler_func_t)(void *vm, int vcpuid,
     bool in, int port, int bytes, uint32_t *val);
 
-int emulate_ioport(struct vm *vm, int vcpuid, struct vm_exit *vmexit);
+int emulate_ioport(struct vm *vm, int vcpuid, struct vm_exit *vme, bool *retu);
 
 #endif	/* _VMM_IOPORT_H_ */
Index: sys/amd64/vmm/vmm_ktr.h
===================================================================
--- sys/amd64/vmm/vmm_ktr.h	(revision 265407)
+++ sys/amd64/vmm/vmm_ktr.h	(working copy)
@@ -48,6 +48,10 @@
 #define	VCPU_CTR3(vm, vcpuid, format, p1, p2, p3)			\
 CTR5(KTR_VMM, "vm %s[%d]: " format, vm_name((vm)), (vcpuid), (p1), (p2), (p3))
 
+#define	VCPU_CTR4(vm, vcpuid, format, p1, p2, p3, p4)			\
+CTR6(KTR_VMM, "vm %s[%d]: " format, vm_name((vm)), (vcpuid),		\
+    (p1), (p2), (p3), (p4))
+
 #define	VM_CTR0(vm, format)						\
 CTR1(KTR_VMM, "vm %s: " format, vm_name((vm)))