diff --git a/drivers/xen/balloon.c b/drivers/xen/balloon.c
index cfab1d24e4bc..1c789056e7e8 100644
--- a/drivers/xen/balloon.c
+++ b/drivers/xen/balloon.c
@@ -392,7 +392,8 @@ static struct notifier_block xen_memory_nb = {
 #else
 static enum bp_state reserve_additional_memory(void)
 {
-	balloon_stats.target_pages = balloon_stats.current_pages;
+	balloon_stats.target_pages = balloon_stats.current_pages +
+				     balloon_stats.target_unpopulated;
 	return BP_ECANCELED;
 }
 #endif /* CONFIG_XEN_BALLOON_MEMORY_HOTPLUG */