diff --git a/drivers/hv/connection.c b/drivers/hv/connection.c
index 3cabeeabb1ca..f001ae880e1d 100644
--- a/drivers/hv/connection.c
+++ b/drivers/hv/connection.c
@@ -237,8 +237,17 @@ int vmbus_connect(void)
 				vmbus_connection.monitor_pages[0], 1);
 	ret |= set_memory_decrypted((unsigned long)
 				vmbus_connection.monitor_pages[1], 1);
-	if (ret)
+	if (ret) {
+		/*
+		 * If set_memory_decrypted() fails, the encryption state
+		 * of the memory is unknown. So leak the memory instead
+		 * of risking returning decrypted memory to the free list.
+		 * For simplicity, always handle both pages the same.
+		 */
+		vmbus_connection.monitor_pages[0] = NULL;
+		vmbus_connection.monitor_pages[1] = NULL;
 		goto cleanup;
+	}
 
 	/*
 	 * Set_memory_decrypted() will change the memory contents if
@@ -337,13 +346,19 @@ void vmbus_disconnect(void)
 		vmbus_connection.int_page = NULL;
 	}
 
-	set_memory_encrypted((unsigned long)vmbus_connection.monitor_pages[0], 1);
-	set_memory_encrypted((unsigned long)vmbus_connection.monitor_pages[1], 1);
+	if (vmbus_connection.monitor_pages[0]) {
+		if (!set_memory_encrypted(
+			(unsigned long)vmbus_connection.monitor_pages[0], 1))
+			hv_free_hyperv_page(vmbus_connection.monitor_pages[0]);
+		vmbus_connection.monitor_pages[0] = NULL;
+	}
 
-	hv_free_hyperv_page(vmbus_connection.monitor_pages[0]);
-	hv_free_hyperv_page(vmbus_connection.monitor_pages[1]);
-	vmbus_connection.monitor_pages[0] = NULL;
-	vmbus_connection.monitor_pages[1] = NULL;
+	if (vmbus_connection.monitor_pages[1]) {
+		if (!set_memory_encrypted(
+			(unsigned long)vmbus_connection.monitor_pages[1], 1))
+			hv_free_hyperv_page(vmbus_connection.monitor_pages[1]);
+		vmbus_connection.monitor_pages[1] = NULL;
+	}
 }
 
 /*