diff --git a/migration/ram.c b/migration/ram.c
index 74c9306c78..d3d72b6f4f 100644
--- a/migration/ram.c
+++ b/migration/ram.c
@@ -1585,25 +1585,30 @@ static int save_xbzrle_page(RAMState *rs, uint8_t **current_data,
     encoded_len = xbzrle_encode_buffer(prev_cached_page, XBZRLE.current_buf,
                                        TARGET_PAGE_SIZE, XBZRLE.encoded_buf,
                                        TARGET_PAGE_SIZE);
+
+    /*
+     * Update the cache contents, so that it corresponds to the data
+     * sent, in all cases except where we skip the page.
+     */
+    if (!last_stage && encoded_len != 0) {
+        memcpy(prev_cached_page, XBZRLE.current_buf, TARGET_PAGE_SIZE);
+        /*
+         * In the case where we couldn't compress, ensure that the caller
+         * sends the data from the cache, since the guest might have
+         * changed the RAM since we copied it.
+         */
+        *current_data = prev_cached_page;
+    }
+
     if (encoded_len == 0) {
         trace_save_xbzrle_page_skipping();
         return 0;
     } else if (encoded_len == -1) {
         trace_save_xbzrle_page_overflow();
         xbzrle_counters.overflow++;
-        /* update data in the cache */
-        if (!last_stage) {
-            memcpy(prev_cached_page, *current_data, TARGET_PAGE_SIZE);
-            *current_data = prev_cached_page;
-        }
         return -1;
     }
 
-    /* we need to update the data in the cache, in order to get the same data */
-    if (!last_stage) {
-        memcpy(prev_cached_page, XBZRLE.current_buf, TARGET_PAGE_SIZE);
-    }
-
     /* Send XBZRLE based compressed page */
     bytes_xbzrle = save_page_header(rs, rs->f, block,
                                     offset | RAM_SAVE_FLAG_XBZRLE);