diff --git a/qemu-timer.c b/qemu-timer.c
index 80bcc563e0..17915df22d 100644
--- a/qemu-timer.c
+++ b/qemu-timer.c
@@ -472,16 +472,16 @@ void qemu_run_all_timers(void)
 {
     alarm_timer->pending = 0;
 
+    /* vm time timers */
+    qemu_run_timers(vm_clock);
+    qemu_run_timers(rt_clock);
+    qemu_run_timers(host_clock);
+
     /* rearm timer, if not periodic */
     if (alarm_timer->expired) {
         alarm_timer->expired = 0;
         qemu_rearm_alarm_timer(alarm_timer);
     }
-
-    /* vm time timers */
-    qemu_run_timers(vm_clock);
-    qemu_run_timers(rt_clock);
-    qemu_run_timers(host_clock);
 }
 
 #ifdef _WIN32