diff --git a/accel/tcg/cpu-exec.c b/accel/tcg/cpu-exec.c
index 977576ca14..52239a441f 100644
--- a/accel/tcg/cpu-exec.c
+++ b/accel/tcg/cpu-exec.c
@@ -396,6 +396,14 @@ const void *HELPER(lookup_tb_ptr)(CPUArchState *env)
     uint64_t cs_base;
     uint32_t flags, cflags;
 
+    /*
+     * By definition we've just finished a TB, so I/O is OK.
+     * Avoid the possibility of calling cpu_io_recompile() if
+     * a page table walk triggered by tb_lookup() calling
+     * probe_access_internal() happens to touch an MMIO device.
+     * The next TB, if we chain to it, will clear the flag again.
+     */
+    cpu->neg.can_do_io = true;
     cpu_get_tb_cpu_state(env, &pc, &cs_base, &flags);
 
     cflags = curr_cflags(cpu);