diff --git a/src/qemu/qemu_command.c b/src/qemu/qemu_command.c
index 7dd8e03a63..a0075a4ea8 100644
--- a/src/qemu/qemu_command.c
+++ b/src/qemu/qemu_command.c
@@ -863,7 +863,7 @@ int qemuDomainPCIAddressSetNextAddr(qemuDomainPCIAddressSetPtr addrs,
  *  - VirtIO block
  *  - VirtIO balloon
  *  - Host device passthrough
- *  - Watchdog
+ *  - Watchdog (not IB700)
  *
  * Prior to this function being invoked, qemuCollectPCIAddress() will have
  * added all existing PCI addresses from the 'def' to 'addrs'. Thus this
@@ -1017,8 +1017,9 @@ qemuAssignDevicePCISlots(virDomainDefPtr def, qemuDomainPCIAddressSetPtr addrs)
             goto error;
     }
 
-    /* A watchdog */
+    /* A watchdog - skip IB700, it is not a PCI device */
     if (def->watchdog &&
+        def->watchdog->model != VIR_DOMAIN_WATCHDOG_MODEL_IB700 &&
         def->watchdog->info.type == VIR_DOMAIN_DEVICE_ADDRESS_TYPE_NONE) {
         if (qemuDomainPCIAddressSetNextAddr(addrs, &def->watchdog->info) < 0)
             goto error;
diff --git a/tests/qemuxml2argvdata/qemuxml2argv-watchdog-device.args b/tests/qemuxml2argvdata/qemuxml2argv-watchdog-device.args
index 2eaea464ae..a4cbeb7979 100644
--- a/tests/qemuxml2argvdata/qemuxml2argv-watchdog-device.args
+++ b/tests/qemuxml2argvdata/qemuxml2argv-watchdog-device.args
@@ -1 +1 @@
-LC_ALL=C PATH=/bin HOME=/home/test USER=test LOGNAME=test /usr/bin/qemu -S -M pc -m 214 -smp 1 -nographic -nodefconfig -nodefaults -monitor unix:/tmp/test-monitor,server,nowait -no-acpi -boot c -hda /dev/HostVG/QEMUGuest1 -usb -device ib700,id=watchdog0,bus=pci.0,addr=0x3 -watchdog-action poweroff -device virtio-balloon-pci,id=balloon0,bus=pci.0,addr=0x2
+LC_ALL=C PATH=/bin HOME=/home/test USER=test LOGNAME=test /usr/bin/qemu -S -M pc -m 214 -smp 1 -nographic -nodefconfig -nodefaults -monitor unix:/tmp/test-monitor,server,nowait -no-acpi -boot c -hda /dev/HostVG/QEMUGuest1 -usb -device ib700,id=watchdog0 -watchdog-action poweroff -device virtio-balloon-pci,id=balloon0,bus=pci.0,addr=0x2