diff --git a/Source/Core/Core/Boot/Boot.cpp b/Source/Core/Core/Boot/Boot.cpp
index 208c4d34bd..bea38b76ab 100644
--- a/Source/Core/Core/Boot/Boot.cpp
+++ b/Source/Core/Core/Boot/Boot.cpp
@@ -489,7 +489,7 @@ bool CBoot::Load_BS2(Core::System& system, const std::string& boot_rom_filename)
 
   ppc_state.pc = 0x81200150;
 
-  PowerPC::MSRUpdated(ppc_state);
+  system.GetPowerPC().MSRUpdated();
 
   return true;
 }
@@ -565,7 +565,7 @@ bool CBoot::BootUp(Core::System& system, const Core::CPUThreadGuard& guard,
 
       auto& ppc_state = system.GetPPCState();
 
-      SetupMSR(ppc_state);
+      SetupMSR(system);
       SetupHID(ppc_state, system.IsWii());
       SetupBAT(system, system.IsWii());
       CopyDefaultExceptionHandlers(system);
diff --git a/Source/Core/Core/Boot/Boot.h b/Source/Core/Core/Boot/Boot.h
index 100f1cfdfd..37e2db2ef6 100644
--- a/Source/Core/Core/Boot/Boot.h
+++ b/Source/Core/Core/Boot/Boot.h
@@ -182,7 +182,7 @@ private:
   static bool Boot_WiiWAD(Core::System& system, const DiscIO::VolumeWAD& wad);
   static bool BootNANDTitle(Core::System& system, u64 title_id);
 
-  static void SetupMSR(PowerPC::PowerPCState& ppc_state);
+  static void SetupMSR(Core::System& system);
   static void SetupHID(PowerPC::PowerPCState& ppc_state, bool is_wii);
   static void SetupBAT(Core::System& system, bool is_wii);
   static bool RunApploader(Core::System& system, const Core::CPUThreadGuard& guard, bool is_wii,
diff --git a/Source/Core/Core/Boot/Boot_BS2Emu.cpp b/Source/Core/Core/Boot/Boot_BS2Emu.cpp
index baf2079677..df2867aaf1 100644
--- a/Source/Core/Core/Boot/Boot_BS2Emu.cpp
+++ b/Source/Core/Core/Boot/Boot_BS2Emu.cpp
@@ -68,14 +68,15 @@ void CBoot::RunFunction(Core::System& system, u32 address)
     power_pc.SingleStep();
 }
 
-void CBoot::SetupMSR(PowerPC::PowerPCState& ppc_state)
+void CBoot::SetupMSR(Core::System& system)
 {
   // 0x0002032
+  auto& ppc_state = system.GetPPCState();
   ppc_state.msr.RI = 1;
   ppc_state.msr.DR = 1;
   ppc_state.msr.IR = 1;
   ppc_state.msr.FP = 1;
-  PowerPC::MSRUpdated(ppc_state);
+  system.GetPowerPC().MSRUpdated();
 }
 
 void CBoot::SetupHID(PowerPC::PowerPCState& ppc_state, bool is_wii)
@@ -279,7 +280,7 @@ bool CBoot::EmulatedBS2_GC(Core::System& system, const Core::CPUThreadGuard& gua
 
   auto& ppc_state = system.GetPPCState();
 
-  SetupMSR(ppc_state);
+  SetupMSR(system);
   SetupHID(ppc_state, /*is_wii*/ false);
   SetupBAT(system, /*is_wii*/ false);
 
@@ -586,7 +587,7 @@ bool CBoot::EmulatedBS2_Wii(Core::System& system, const Core::CPUThreadGuard& gu
 
   auto& ppc_state = system.GetPPCState();
 
-  SetupMSR(ppc_state);
+  SetupMSR(system);
   SetupHID(ppc_state, /*is_wii*/ true);
   SetupBAT(system, /*is_wii*/ true);
 
diff --git a/Source/Core/Core/FifoPlayer/FifoPlayer.cpp b/Source/Core/Core/FifoPlayer/FifoPlayer.cpp
index 8f6a54916e..e7b677a0b8 100644
--- a/Source/Core/Core/FifoPlayer/FifoPlayer.cpp
+++ b/Source/Core/Core/FifoPlayer/FifoPlayer.cpp
@@ -650,7 +650,7 @@ void FifoPlayer::LoadMemory()
     HID4(ppc_state).SBE = 1;
   }
 
-  PowerPC::MSRUpdated(ppc_state);
+  m_system.GetPowerPC().MSRUpdated();
 
   auto& mmu = m_system.GetMMU();
   mmu.DBATUpdated();
diff --git a/Source/Core/Core/IOS/MIOS.cpp b/Source/Core/Core/IOS/MIOS.cpp
index 7722cebea5..679f511103 100644
--- a/Source/Core/Core/IOS/MIOS.cpp
+++ b/Source/Core/Core/IOS/MIOS.cpp
@@ -89,7 +89,7 @@ bool Load(Core::System& system)
   PowerPC::PowerPCState& ppc_state = power_pc.GetPPCState();
   ppc_state.msr.Hex = 0;
   ppc_state.pc = 0x3400;
-  PowerPC::MSRUpdated(ppc_state);
+  power_pc.MSRUpdated();
 
   NOTICE_LOG_FMT(IOS, "Loaded MIOS and bootstrapped PPC.");
 
diff --git a/Source/Core/Core/PowerPC/GDBStub.cpp b/Source/Core/Core/PowerPC/GDBStub.cpp
index 349f35254c..b9513f9357 100644
--- a/Source/Core/Core/PowerPC/GDBStub.cpp
+++ b/Source/Core/Core/PowerPC/GDBStub.cpp
@@ -661,7 +661,7 @@ static void WriteRegister()
       break;
     case 65:
       ppc_state.msr.Hex = re32hex(bufptr);
-      PowerPC::MSRUpdated(ppc_state);
+      system.GetPowerPC().MSRUpdated();
       break;
     case 66:
       ppc_state.cr.Set(re32hex(bufptr));
diff --git a/Source/Core/Core/PowerPC/Interpreter/Interpreter_Branch.cpp b/Source/Core/Core/PowerPC/Interpreter/Interpreter_Branch.cpp
index 1d57d971b4..e64de461cc 100644
--- a/Source/Core/Core/PowerPC/Interpreter/Interpreter_Branch.cpp
+++ b/Source/Core/Core/PowerPC/Interpreter/Interpreter_Branch.cpp
@@ -161,7 +161,7 @@ void Interpreter::rfi(Interpreter& interpreter, UGeckoInstruction inst)
   // set NPC to saved offset and resume
   ppc_state.npc = SRR0(ppc_state);
 
-  PowerPC::MSRUpdated(ppc_state);
+  interpreter.m_system.GetPowerPC().MSRUpdated();
 
   interpreter.m_end_block = true;
 }
diff --git a/Source/Core/Core/PowerPC/Interpreter/Interpreter_SystemRegisters.cpp b/Source/Core/Core/PowerPC/Interpreter/Interpreter_SystemRegisters.cpp
index a28a968653..e632ab403d 100644
--- a/Source/Core/Core/PowerPC/Interpreter/Interpreter_SystemRegisters.cpp
+++ b/Source/Core/Core/PowerPC/Interpreter/Interpreter_SystemRegisters.cpp
@@ -181,7 +181,7 @@ void Interpreter::mtmsr(Interpreter& interpreter, UGeckoInstruction inst)
 
   ppc_state.msr.Hex = ppc_state.gpr[inst.RS];
 
-  PowerPC::MSRUpdated(ppc_state);
+  interpreter.m_system.GetPowerPC().MSRUpdated();
 
   // FE0/FE1 may have been set
   CheckFPExceptions(ppc_state);
diff --git a/Source/Core/Core/PowerPC/Jit64/Jit.cpp b/Source/Core/Core/PowerPC/Jit64/Jit.cpp
index b09279d458..f011ff468d 100644
--- a/Source/Core/Core/PowerPC/Jit64/Jit.cpp
+++ b/Source/Core/Core/PowerPC/Jit64/Jit.cpp
@@ -369,6 +369,9 @@ void Jit64::FallBackToInterpreter(UGeckoInstruction inst)
   gpr.Reset(js.op->regsOut);
   fpr.Reset(js.op->GetFregsOut());
 
+  if (js.op->opinfo->flags & FL_SET_MSR)
+    EmitUpdateMembase();
+
   if (js.op->canEndBlock)
   {
     if (js.isLastInstruction)
diff --git a/Source/Core/Core/PowerPC/JitArm64/Jit.cpp b/Source/Core/Core/PowerPC/JitArm64/Jit.cpp
index 51925d0d48..86a71c323e 100644
--- a/Source/Core/Core/PowerPC/JitArm64/Jit.cpp
+++ b/Source/Core/Core/PowerPC/JitArm64/Jit.cpp
@@ -278,6 +278,9 @@ void JitArm64::FallBackToInterpreter(UGeckoInstruction inst)
   fpr.ResetRegisters(js.op->GetFregsOut());
   gpr.ResetCRRegisters(js.op->crOut);
 
+  if (js.op->opinfo->flags & FL_SET_MSR)
+    EmitUpdateMembase();
+
   if (js.op->canEndBlock)
   {
     if (js.isLastInstruction)
diff --git a/Source/Core/Core/PowerPC/PPCTables.cpp b/Source/Core/Core/PowerPC/PPCTables.cpp
index 24d9040c6e..58fa222e1e 100644
--- a/Source/Core/Core/PowerPC/PPCTables.cpp
+++ b/Source/Core/Core/PowerPC/PPCTables.cpp
@@ -235,7 +235,8 @@ constexpr std::array<GekkoOPTemplate, 13> s_table19{{
     {150, "isync", OpType::InstructionCache, 1, FL_NO_REORDER},
     {0, "mcrf", OpType::System, 1, FL_SET_CRn | FL_READ_CRn},
 
-    {50, "rfi", OpType::System, 2, FL_ENDBLOCK | FL_CHECKEXCEPTIONS | FL_PROGRAMEXCEPTION},
+    {50, "rfi", OpType::System, 2,
+     FL_ENDBLOCK | FL_CHECKEXCEPTIONS | FL_PROGRAMEXCEPTION | FL_SET_MSR},
 }};
 
 constexpr std::array<GekkoOPTemplate, 107> s_table31{{
@@ -369,7 +370,7 @@ constexpr std::array<GekkoOPTemplate, 107> s_table31{{
     {83, "mfmsr", OpType::System, 1, FL_OUT_D | FL_PROGRAMEXCEPTION},
     {144, "mtcrf", OpType::System, 1, FL_IN_S | FL_SET_ALL_CR | FL_READ_ALL_CR},
     {146, "mtmsr", OpType::System, 1,
-     FL_IN_S | FL_ENDBLOCK | FL_PROGRAMEXCEPTION | FL_FLOAT_EXCEPTION},
+     FL_IN_S | FL_ENDBLOCK | FL_PROGRAMEXCEPTION | FL_FLOAT_EXCEPTION | FL_SET_MSR},
     {210, "mtsr", OpType::System, 1, FL_IN_S | FL_PROGRAMEXCEPTION},
     {242, "mtsrin", OpType::System, 1, FL_IN_SB | FL_PROGRAMEXCEPTION},
     {339, "mfspr", OpType::SPR, 1, FL_OUT_D | FL_PROGRAMEXCEPTION},
diff --git a/Source/Core/Core/PowerPC/PPCTables.h b/Source/Core/Core/PowerPC/PPCTables.h
index afb265f840..847eaf40c2 100644
--- a/Source/Core/Core/PowerPC/PPCTables.h
+++ b/Source/Core/Core/PowerPC/PPCTables.h
@@ -67,6 +67,7 @@ enum InstructionFlags : u64
   FL_READ_ALL_CR = (1ull << 38),  // Reads every CR.
   FL_SET_CRx = FL_SET_CR0 | FL_SET_CR1 | FL_SET_CRn | FL_SET_ALL_CR,
   FL_READ_CRx = FL_READ_CRn | FL_READ_CR_BI | FL_READ_ALL_CR,
+  FL_SET_MSR = (1ull << 39),
 };
 
 enum class OpType
diff --git a/Source/Core/Core/PowerPC/PowerPC.cpp b/Source/Core/Core/PowerPC/PowerPC.cpp
index 3cc1112bd7..59f1e3d1bf 100644
--- a/Source/Core/Core/PowerPC/PowerPC.cpp
+++ b/Source/Core/Core/PowerPC/PowerPC.cpp
@@ -568,8 +568,7 @@ void PowerPCManager::CheckExceptions()
     return;
   }
 
-  m_system.GetJitInterface().UpdateMembase();
-  MSRUpdated(m_ppc_state);
+  MSRUpdated();
 }
 
 void PowerPCManager::CheckExternalExceptions()
@@ -622,10 +621,8 @@ void PowerPCManager::CheckExternalExceptions()
       ERROR_LOG_FMT(POWERPC, "Unknown EXTERNAL INTERRUPT exception: Exceptions == {:08x}",
                     exceptions);
     }
-    MSRUpdated(m_ppc_state);
+    MSRUpdated();
   }
-
-  m_system.GetJitInterface().UpdateMembase();
 }
 
 bool PowerPCManager::CheckBreakPoints()
@@ -662,6 +659,19 @@ bool PowerPCManager::CheckAndHandleBreakPoints()
   return false;
 }
 
+void PowerPCManager::MSRUpdated()
+{
+  static_assert(UReg_MSR{}.DR.StartBit() == 4);
+  static_assert(UReg_MSR{}.IR.StartBit() == 5);
+  static_assert(FEATURE_FLAG_MSR_DR == 1 << 0);
+  static_assert(FEATURE_FLAG_MSR_IR == 1 << 1);
+
+  m_ppc_state.feature_flags = static_cast<CPUEmuFeatureFlags>(
+      (m_ppc_state.feature_flags & FEATURE_FLAG_PERFMON) | ((m_ppc_state.msr.Hex >> 4) & 0x3));
+
+  m_system.GetJitInterface().UpdateMembase();
+}
+
 void PowerPCState::SetSR(u32 index, u32 value)
 {
   DEBUG_LOG_FMT(POWERPC, "{:08x}: MMU: Segment register {} set to {:08x}", pc, index, value);
@@ -688,17 +698,6 @@ void RoundingModeUpdated(PowerPCState& ppc_state)
   Common::FPU::SetSIMDMode(ppc_state.fpscr.RN, ppc_state.fpscr.NI);
 }
 
-void MSRUpdated(PowerPCState& ppc_state)
-{
-  static_assert(UReg_MSR{}.DR.StartBit() == 4);
-  static_assert(UReg_MSR{}.IR.StartBit() == 5);
-  static_assert(FEATURE_FLAG_MSR_DR == 1 << 0);
-  static_assert(FEATURE_FLAG_MSR_IR == 1 << 1);
-
-  ppc_state.feature_flags = static_cast<CPUEmuFeatureFlags>(
-      (ppc_state.feature_flags & FEATURE_FLAG_PERFMON) | ((ppc_state.msr.Hex >> 4) & 0x3));
-}
-
 void MMCRUpdated(PowerPCState& ppc_state)
 {
   const bool perfmon = ppc_state.spr[SPR_MMCR0] || ppc_state.spr[SPR_MMCR1];
diff --git a/Source/Core/Core/PowerPC/PowerPC.h b/Source/Core/Core/PowerPC/PowerPC.h
index 662507697e..6e49edd65b 100644
--- a/Source/Core/Core/PowerPC/PowerPC.h
+++ b/Source/Core/Core/PowerPC/PowerPC.h
@@ -290,6 +290,8 @@ public:
   u64 ReadFullTimeBaseValue() const;
   void WriteFullTimeBaseValue(u64 value);
 
+  void MSRUpdated();
+
   PowerPCState& GetPPCState() { return m_ppc_state; }
   const PowerPCState& GetPPCState() const { return m_ppc_state; }
   BreakPoints& GetBreakPoints() { return m_breakpoints; }
@@ -335,6 +337,8 @@ void CheckExceptionsFromJIT(PowerPCManager& power_pc);
 void CheckExternalExceptionsFromJIT(PowerPCManager& power_pc);
 void CheckAndHandleBreakPointsFromJIT(PowerPCManager& power_pc);
 
+void MSRUpdated(PowerPCManager& power_pc);
+
 // Easy register access macros.
 #define HID0(ppc_state) ((UReg_HID0&)(ppc_state).spr[SPR_HID0])
 #define HID2(ppc_state) ((UReg_HID2&)(ppc_state).spr[SPR_HID2])
@@ -356,7 +360,6 @@ void CheckAndHandleBreakPointsFromJIT(PowerPCManager& power_pc);
 #define TU(ppc_state) (ppc_state).spr[SPR_TU]
 
 void RoundingModeUpdated(PowerPCState& ppc_state);
-void MSRUpdated(PowerPCState& ppc_state);
 void MMCRUpdated(PowerPCState& ppc_state);
 void RecalculateAllFeatureFlags(PowerPCState& ppc_state);
 
diff --git a/Source/Core/DolphinQt/Debugger/RegisterWidget.cpp b/Source/Core/DolphinQt/Debugger/RegisterWidget.cpp
index 918d6c397d..4ddda375eb 100644
--- a/Source/Core/DolphinQt/Debugger/RegisterWidget.cpp
+++ b/Source/Core/DolphinQt/Debugger/RegisterWidget.cpp
@@ -451,7 +451,7 @@ void RegisterWidget::PopulateTable()
       23, 5, RegisterType::msr, "MSR", [this] { return m_system.GetPPCState().msr.Hex; },
       [this](u64 value) {
         m_system.GetPPCState().msr.Hex = value;
-        PowerPC::MSRUpdated(m_system.GetPPCState());
+        m_system.GetPowerPC().MSRUpdated();
       });
 
   // SRR 0-1