diff --git a/target/arm/cpu.c b/target/arm/cpu.c
index 1b5d535788..d9c4a9f56d 100644
--- a/target/arm/cpu.c
+++ b/target/arm/cpu.c
@@ -39,6 +39,7 @@
 #include "hw/boards.h"
 #endif
 #include "sysemu/tcg.h"
+#include "sysemu/qtest.h"
 #include "sysemu/hw_accel.h"
 #include "kvm_arm.h"
 #include "disas/capstone.h"
@@ -1490,25 +1491,32 @@ static void arm_cpu_realizefn(DeviceState *dev, Error **errp)
         }
     }
 
-    if (kvm_enabled()) {
+    if (!tcg_enabled() && !qtest_enabled()) {
         /*
+         * We assume that no accelerator except TCG (and the "not really an
+         * accelerator" qtest) can handle these features, because Arm hardware
+         * virtualization can't virtualize them.
+         *
          * Catch all the cases which might cause us to create more than one
          * address space for the CPU (otherwise we will assert() later in
          * cpu_address_space_init()).
          */
         if (arm_feature(env, ARM_FEATURE_M)) {
             error_setg(errp,
-                       "Cannot enable KVM when using an M-profile guest CPU");
+                       "Cannot enable %s when using an M-profile guest CPU",
+                       current_accel_name());
             return;
         }
         if (cpu->has_el3) {
             error_setg(errp,
-                       "Cannot enable KVM when guest CPU has EL3 enabled");
+                       "Cannot enable %s when guest CPU has EL3 enabled",
+                       current_accel_name());
             return;
         }
         if (cpu->tag_memory) {
             error_setg(errp,
-                       "Cannot enable KVM when guest CPUs has MTE enabled");
+                       "Cannot enable %s when guest CPUs has MTE enabled",
+                       current_accel_name());
             return;
         }
     }