diff --git a/pcsx2/DebugTools/DebugInterface.cpp b/pcsx2/DebugTools/DebugInterface.cpp
index 7d2ffadfd3..fa316fa0d2 100644
--- a/pcsx2/DebugTools/DebugInterface.cpp
+++ b/pcsx2/DebugTools/DebugInterface.cpp
@@ -218,7 +218,8 @@ bool DebugInterface::m_pause_on_entry = false;
 
 bool DebugInterface::isAlive()
 {
-	return VMManager::HasValidVM() && g_FrameCount > 0;
+	const VMState state = VMManager::GetState();
+	return (state == VMState::Running || state == VMState::Paused) && g_FrameCount > 0;
 }
 
 bool DebugInterface::isCpuPaused()