diff --git a/cpu-exec.c b/cpu-exec.c
index 6995112353..c6db5adf5e 100644
--- a/cpu-exec.c
+++ b/cpu-exec.c
@@ -384,8 +384,14 @@ int cpu_exec(CPUState *env1)
             next_tb = 0; /* force lookup of first TB */
             for(;;) {
                 interrupt_request = env->interrupt_request;
-                if (unlikely(interrupt_request) &&
-                    likely(!(env->singlestep_enabled & SSTEP_NOIRQ))) {
+                if (unlikely(interrupt_request)) {
+                    if (unlikely(env->singlestep_enabled & SSTEP_NOIRQ)) {
+                        /* Mask out external interrupts for this step. */
+                        interrupt_request &= ~(CPU_INTERRUPT_HARD |
+                                               CPU_INTERRUPT_FIQ |
+                                               CPU_INTERRUPT_SMI |
+                                               CPU_INTERRUPT_NMI);
+                    }
                     if (interrupt_request & CPU_INTERRUPT_DEBUG) {
                         env->interrupt_request &= ~CPU_INTERRUPT_DEBUG;
                         env->exception_index = EXCP_DEBUG;