diff --git a/hw/i386/pc.c b/hw/i386/pc.c
index 6293f57a0c..dbaefa7617 100644
--- a/hw/i386/pc.c
+++ b/hw/i386/pc.c
@@ -781,10 +781,12 @@ static void pc_get_device_memory_range(PCMachineState *pcms,
 static uint64_t pc_get_cxl_range_start(PCMachineState *pcms)
 {
     PCMachineClass *pcmc = PC_MACHINE_GET_CLASS(pcms);
+    MachineState *ms = MACHINE(pcms);
     hwaddr cxl_base;
     ram_addr_t size;
 
-    if (pcmc->has_reserved_memory) {
+    if (pcmc->has_reserved_memory &&
+        (ms->ram_size < ms->maxram_size)) {
         pc_get_device_memory_range(pcms, &cxl_base, &size);
         cxl_base += size;
     } else {