diff --git a/accel/mshv/mem.c b/accel/mshv/mem.c
new file mode 100644
index 0000000000..9889918c31
--- /dev/null
+++ b/accel/mshv/mem.c
@@ -0,0 +1,25 @@
+/*
+ * QEMU MSHV support
+ *
+ * Copyright Microsoft, Corp. 2025
+ *
+ * Authors:
+ *  Magnus Kulke      <magnuskulke@microsoft.com>
+ *
+ * SPDX-License-Identifier: GPL-2.0-or-later
+ *
+ */
+
+#include "qemu/osdep.h"
+#include "qemu/error-report.h"
+#include "system/address-spaces.h"
+#include "system/mshv.h"
+#include "system/mshv_int.h"
+
+void mshv_set_phys_mem(MshvMemoryListener *mml, MemoryRegionSection *section,
+                       bool add)
+{
+    error_report("unimplemented");
+    abort();
+}
+
diff --git a/accel/mshv/meson.build b/accel/mshv/meson.build
index 4c03ac7921..8a6beb3fb1 100644
--- a/accel/mshv/meson.build
+++ b/accel/mshv/meson.build
@@ -1,5 +1,6 @@
 mshv_ss = ss.source_set()
 mshv_ss.add(if_true: files(
+  'mem.c',
   'mshv-all.c'
 ))
 
diff --git a/accel/mshv/mshv-all.c b/accel/mshv/mshv-all.c
index ae12f0f58b..a684a36677 100644
--- a/accel/mshv/mshv-all.c
+++ b/accel/mshv/mshv-all.c
@@ -49,10 +49,73 @@ bool mshv_allowed;
 
 MshvState *mshv_state;
 
+static void mem_region_add(MemoryListener *listener,
+                           MemoryRegionSection *section)
+{
+    MshvMemoryListener *mml;
+    mml = container_of(listener, MshvMemoryListener, listener);
+    memory_region_ref(section->mr);
+    mshv_set_phys_mem(mml, section, true);
+}
+
+static void mem_region_del(MemoryListener *listener,
+                           MemoryRegionSection *section)
+{
+    MshvMemoryListener *mml;
+    mml = container_of(listener, MshvMemoryListener, listener);
+    mshv_set_phys_mem(mml, section, false);
+    memory_region_unref(section->mr);
+}
+
+static MemoryListener mshv_memory_listener = {
+    .name = "mshv",
+    .priority = MEMORY_LISTENER_PRIORITY_ACCEL,
+    .region_add = mem_region_add,
+    .region_del = mem_region_del,
+};
+
+static MemoryListener mshv_io_listener = {
+    .name = "mshv", .priority = MEMORY_LISTENER_PRIORITY_DEV_BACKEND,
+    /* MSHV does not support PIO eventfd */
+};
+
+static void register_mshv_memory_listener(MshvState *s, MshvMemoryListener *mml,
+                                          AddressSpace *as, int as_id,
+                                          const char *name)
+{
+    int i;
+
+    mml->listener = mshv_memory_listener;
+    mml->listener.name = name;
+    memory_listener_register(&mml->listener, as);
+    for (i = 0; i < s->nr_as; ++i) {
+        if (!s->as[i].as) {
+            s->as[i].as = as;
+            s->as[i].ml = mml;
+            break;
+        }
+    }
+}
+
 static int mshv_init(AccelState *as, MachineState *ms)
 {
-    error_report("unimplemented");
-    abort();
+    MshvState *s;
+    s = MSHV_STATE(as);
+
+    accel_blocker_init();
+
+    s->vm = 0;
+
+    s->nr_as = 1;
+    s->as = g_new0(MshvAddressSpace, s->nr_as);
+
+    mshv_state = s;
+
+    register_mshv_memory_listener(s, &s->memory_listener, &address_space_memory,
+                                  0, "mshv-memory");
+    memory_listener_register(&mshv_io_listener, &address_space_io);
+
+    return 0;
 }
 
 static void mshv_start_vcpu_thread(CPUState *cpu)
diff --git a/include/system/mshv_int.h b/include/system/mshv_int.h
index 132491b599..cfa177ff72 100644
--- a/include/system/mshv_int.h
+++ b/include/system/mshv_int.h
@@ -38,4 +38,8 @@ struct MshvState {
     MshvAddressSpace *as;
 };
 
+/* memory */
+void mshv_set_phys_mem(MshvMemoryListener *mml, MemoryRegionSection *section,
+                       bool add);
+
 #endif