diff --git a/Makefile.objs b/Makefile.objs
index 493c988..e24bcd7 100644
--- a/Makefile.objs
+++ b/Makefile.objs
@@ -11,6 +11,12 @@ oslib-obj-$(CONFIG_WIN32) += oslib-win32.o qemu-thread-win32.o
 oslib-obj-$(CONFIG_POSIX) += oslib-posix.o qemu-thread-posix.o
 
 #######################################################################
+# coroutines
+coroutine-obj-y = qemu-coroutine.o
+coroutine-obj-$(CONFIG_POSIX) += coroutine-ucontext.o
+coroutine-obj-$(CONFIG_WIN32) += coroutine-win32.o
+
+#######################################################################
 # block-obj-y is code used by both qemu system emulation and qemu-img
 
 block-obj-y = cutils.o cache-utils.o qemu-malloc.o qemu-option.o module.o async.o
@@ -69,6 +75,7 @@ common-obj-y += readline.o console.o cursor.o qemu-error.o
 common-obj-y += $(oslib-obj-y)
 common-obj-$(CONFIG_WIN32) += os-win32.o
 common-obj-$(CONFIG_POSIX) += os-posix.o
+common-obj-y += $(coroutine-obj-y)
 
 common-obj-y += tcg-runtime.o host-utils.o
 common-obj-y += irq.o ioport.o input.o
diff --git a/coroutine-ucontext.c b/coroutine-ucontext.c
new file mode 100644
index 0000000..7d5a809
--- /dev/null
+++ b/coroutine-ucontext.c
@@ -0,0 +1,230 @@
+/*
+ * ucontext coroutine initialization code
+ *
+ * Copyright (C) 2006  Anthony Liguori <anthony@codemonkey.ws>
+ * Copyright (C) 2011  Kevin Wolf <kwolf@redhat.com>
+ *
+ * This library is free software; you can redistribute it and/or
+ * modify it under the terms of the GNU Lesser General Public
+ * License as published by the Free Software Foundation; either
+ * version 2.0 of the License, or (at your option) any later version.
+ *
+ * This library is distributed in the hope that it will be useful,
+ * but WITHOUT ANY WARRANTY; without even the implied warranty of
+ * MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the GNU
+ * Lesser General Public License for more details.
+ *
+ * You should have received a copy of the GNU Lesser General Public
+ * License along with this library; if not, see <http://www.gnu.org/licenses/>.
+ */
+
+/* XXX Is there a nicer way to disable glibc's stack check for longjmp? */
+#ifdef _FORTIFY_SOURCE
+#undef _FORTIFY_SOURCE
+#endif
+#include <stdlib.h>
+#include <setjmp.h>
+#include <stdint.h>
+#include <pthread.h>
+#include <ucontext.h>
+#include "qemu-common.h"
+#include "qemu-coroutine-int.h"
+
+enum {
+    /* Maximum free pool size prevents holding too many freed coroutines */
+    POOL_MAX_SIZE = 64,
+};
+
+typedef struct {
+    Coroutine base;
+    void *stack;
+    jmp_buf env;
+} CoroutineUContext;
+
+/**
+ * Per-thread coroutine bookkeeping
+ */
+typedef struct {
+    /** Currently executing coroutine */
+    Coroutine *current;
+
+    /** Free list to speed up creation */
+    QLIST_HEAD(, Coroutine) pool;
+    unsigned int pool_size;
+
+    /** The default coroutine */
+    CoroutineUContext leader;
+} CoroutineThreadState;
+
+static pthread_key_t thread_state_key;
+
+/*
+ * va_args to makecontext() must be type 'int', so passing
+ * the pointer we need may require several int args. This
+ * union is a quick hack to let us do that
+ */
+union cc_arg {
+    void *p;
+    int i[2];
+};
+
+static CoroutineThreadState *coroutine_get_thread_state(void)
+{
+    CoroutineThreadState *s = pthread_getspecific(thread_state_key);
+
+    if (!s) {
+        s = qemu_mallocz(sizeof(*s));
+        s->current = &s->leader.base;
+        QLIST_INIT(&s->pool);
+        pthread_setspecific(thread_state_key, s);
+    }
+    return s;
+}
+
+static void qemu_coroutine_thread_cleanup(void *opaque)
+{
+    CoroutineThreadState *s = opaque;
+    Coroutine *co;
+    Coroutine *tmp;
+
+    QLIST_FOREACH_SAFE(co, &s->pool, pool_next, tmp) {
+        qemu_free(DO_UPCAST(CoroutineUContext, base, co)->stack);
+        qemu_free(co);
+    }
+    qemu_free(s);
+}
+
+static void __attribute__((constructor)) coroutine_init(void)
+{
+    int ret;
+
+    ret = pthread_key_create(&thread_state_key, qemu_coroutine_thread_cleanup);
+    if (ret != 0) {
+        fprintf(stderr, "unable to create leader key: %s\n", strerror(errno));
+        abort();
+    }
+}
+
+static void coroutine_trampoline(int i0, int i1)
+{
+    union cc_arg arg;
+    CoroutineUContext *self;
+    Coroutine *co;
+
+    arg.i[0] = i0;
+    arg.i[1] = i1;
+    self = arg.p;
+    co = &self->base;
+
+    /* Initialize longjmp environment and switch back the caller */
+    if (!setjmp(self->env)) {
+        longjmp(*(jmp_buf *)co->entry_arg, 1);
+    }
+
+    while (true) {
+        co->entry(co->entry_arg);
+        qemu_coroutine_switch(co, co->caller, COROUTINE_TERMINATE);
+    }
+}
+
+static Coroutine *coroutine_new(void)
+{
+    const size_t stack_size = 4 << 20;
+    CoroutineUContext *co;
+    ucontext_t old_uc, uc;
+    jmp_buf old_env;
+    union cc_arg arg;
+
+    /* The ucontext functions preserve signal masks which incurs a system call
+     * overhead.  setjmp()/longjmp() does not preserve signal masks but only
+     * works on the current stack.  Since we need a way to create and switch to
+     * a new stack, use the ucontext functions for that but setjmp()/longjmp()
+     * for everything else.
+     */
+
+    if (getcontext(&uc) == -1) {
+        abort();
+    }
+
+    co = qemu_mallocz(sizeof(*co));
+    co->stack = qemu_malloc(stack_size);
+    co->base.entry_arg = &old_env; /* stash away our jmp_buf */
+
+    uc.uc_link = &old_uc;
+    uc.uc_stack.ss_sp = co->stack;
+    uc.uc_stack.ss_size = stack_size;
+    uc.uc_stack.ss_flags = 0;
+
+    arg.p = co;
+
+    makecontext(&uc, (void (*)(void))coroutine_trampoline,
+                2, arg.i[0], arg.i[1]);
+
+    /* swapcontext() in, longjmp() back out */
+    if (!setjmp(old_env)) {
+        swapcontext(&old_uc, &uc);
+    }
+    return &co->base;
+}
+
+Coroutine *qemu_coroutine_new(void)
+{
+    CoroutineThreadState *s = coroutine_get_thread_state();
+    Coroutine *co;
+
+    co = QLIST_FIRST(&s->pool);
+    if (co) {
+        QLIST_REMOVE(co, pool_next);
+        s->pool_size--;
+    } else {
+        co = coroutine_new();
+    }
+    return co;
+}
+
+void qemu_coroutine_delete(Coroutine *co_)
+{
+    CoroutineThreadState *s = coroutine_get_thread_state();
+    CoroutineUContext *co = DO_UPCAST(CoroutineUContext, base, co_);
+
+    if (s->pool_size < POOL_MAX_SIZE) {
+        QLIST_INSERT_HEAD(&s->pool, &co->base, pool_next);
+        co->base.caller = NULL;
+        s->pool_size++;
+        return;
+    }
+
+    qemu_free(co->stack);
+    qemu_free(co);
+}
+
+CoroutineAction qemu_coroutine_switch(Coroutine *from_, Coroutine *to_,
+                                      CoroutineAction action)
+{
+    CoroutineUContext *from = DO_UPCAST(CoroutineUContext, base, from_);
+    CoroutineUContext *to = DO_UPCAST(CoroutineUContext, base, to_);
+    CoroutineThreadState *s = coroutine_get_thread_state();
+    int ret;
+
+    s->current = to_;
+
+    ret = setjmp(from->env);
+    if (ret == 0) {
+        longjmp(to->env, action);
+    }
+    return ret;
+}
+
+Coroutine *qemu_coroutine_self(void)
+{
+    CoroutineThreadState *s = coroutine_get_thread_state();
+
+    return s->current;
+}
+
+bool qemu_in_coroutine(void)
+{
+    CoroutineThreadState *s = pthread_getspecific(thread_state_key);
+
+    return s && s->current->caller;
+}
diff --git a/coroutine-win32.c b/coroutine-win32.c
new file mode 100644
index 0000000..2215ae5
--- /dev/null
+++ b/coroutine-win32.c
@@ -0,0 +1,92 @@
+/*
+ * Win32 coroutine initialization code
+ *
+ * Copyright (c) 2011 Kevin Wolf <kwolf@redhat.com>
+ *
+ * Permission is hereby granted, free of charge, to any person obtaining a copy
+ * of this software and associated documentation files (the "Software"), to deal
+ * in the Software without restriction, including without limitation the rights
+ * to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+ * copies of the Software, and to permit persons to whom the Software is
+ * furnished to do so, subject to the following conditions:
+ *
+ * The above copyright notice and this permission notice shall be included in
+ * all copies or substantial portions of the Software.
+ *
+ * THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+ * IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+ * FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL
+ * THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+ * LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+ * OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN
+ * THE SOFTWARE.
+ */
+
+#include "qemu-common.h"
+#include "qemu-coroutine-int.h"
+
+typedef struct
+{
+    Coroutine base;
+
+    LPVOID fiber;
+    CoroutineAction action;
+} CoroutineWin32;
+
+static __thread CoroutineWin32 leader;
+static __thread Coroutine *current;
+
+CoroutineAction qemu_coroutine_switch(Coroutine *from_, Coroutine *to_,
+                                      CoroutineAction action)
+{
+    CoroutineWin32 *from = DO_UPCAST(CoroutineWin32, base, from_);
+    CoroutineWin32 *to = DO_UPCAST(CoroutineWin32, base, to_);
+
+    current = to_;
+
+    to->action = action;
+    SwitchToFiber(to->fiber);
+    return from->action;
+}
+
+static void CALLBACK coroutine_trampoline(void *co_)
+{
+    Coroutine *co = co_;
+
+    while (true) {
+        co->entry(co->entry_arg);
+        qemu_coroutine_switch(co, co->caller, COROUTINE_TERMINATE);
+    }
+}
+
+Coroutine *qemu_coroutine_new(void)
+{
+    const size_t stack_size = 4 << 20;
+    CoroutineWin32 *co;
+
+    co = qemu_mallocz(sizeof(*co));
+    co->fiber = CreateFiber(stack_size, coroutine_trampoline, &co->base);
+    return &co->base;
+}
+
+void qemu_coroutine_delete(Coroutine *co_)
+{
+    CoroutineWin32 *co = DO_UPCAST(CoroutineWin32, base, co_);
+
+    DeleteFiber(co->fiber);
+    qemu_free(co);
+}
+
+Coroutine *qemu_coroutine_self(void)
+{
+    if (!current) {
+        current = &leader.base;
+        leader.fiber = ConvertThreadToFiber(NULL);
+    }
+    return current;
+}
+
+bool qemu_in_coroutine(void)
+{
+    return current && current->caller;
+}
diff --git a/qemu-coroutine-int.h b/qemu-coroutine-int.h
new file mode 100644
index 0000000..64915c2
--- /dev/null
+++ b/qemu-coroutine-int.h
@@ -0,0 +1,48 @@
+/*
+ * Coroutine internals
+ *
+ * Copyright (c) 2011 Kevin Wolf <kwolf@redhat.com>
+ *
+ * Permission is hereby granted, free of charge, to any person obtaining a copy
+ * of this software and associated documentation files (the "Software"), to deal
+ * in the Software without restriction, including without limitation the rights
+ * to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+ * copies of the Software, and to permit persons to whom the Software is
+ * furnished to do so, subject to the following conditions:
+ *
+ * The above copyright notice and this permission notice shall be included in
+ * all copies or substantial portions of the Software.
+ *
+ * THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+ * IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+ * FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL
+ * THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+ * LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+ * OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN
+ * THE SOFTWARE.
+ */
+
+#ifndef QEMU_COROUTINE_INT_H
+#define QEMU_COROUTINE_INT_H
+
+#include "qemu-queue.h"
+#include "qemu-coroutine.h"
+
+typedef enum {
+    COROUTINE_YIELD = 1,
+    COROUTINE_TERMINATE = 2,
+} CoroutineAction;
+
+struct Coroutine {
+    CoroutineEntry *entry;
+    void *entry_arg;
+    Coroutine *caller;
+    QLIST_ENTRY(Coroutine) pool_next;
+};
+
+Coroutine *qemu_coroutine_new(void);
+void qemu_coroutine_delete(Coroutine *co);
+CoroutineAction qemu_coroutine_switch(Coroutine *from, Coroutine *to,
+                                      CoroutineAction action);
+
+#endif
diff --git a/qemu-coroutine.c b/qemu-coroutine.c
new file mode 100644
index 0000000..600be26
--- /dev/null
+++ b/qemu-coroutine.c
@@ -0,0 +1,75 @@
+/*
+ * QEMU coroutines
+ *
+ * Copyright IBM, Corp. 2011
+ *
+ * Authors:
+ *  Stefan Hajnoczi    <stefanha@linux.vnet.ibm.com>
+ *  Kevin Wolf         <kwolf@redhat.com>
+ *
+ * This work is licensed under the terms of the GNU LGPL, version 2 or later.
+ * See the COPYING.LIB file in the top-level directory.
+ *
+ */
+
+#include "trace.h"
+#include "qemu-common.h"
+#include "qemu-coroutine.h"
+#include "qemu-coroutine-int.h"
+
+Coroutine *qemu_coroutine_create(CoroutineEntry *entry)
+{
+    Coroutine *co = qemu_coroutine_new();
+    co->entry = entry;
+    return co;
+}
+
+static void coroutine_swap(Coroutine *from, Coroutine *to)
+{
+    CoroutineAction ret;
+
+    ret = qemu_coroutine_switch(from, to, COROUTINE_YIELD);
+
+    switch (ret) {
+    case COROUTINE_YIELD:
+        return;
+    case COROUTINE_TERMINATE:
+        trace_qemu_coroutine_terminate(to);
+        qemu_coroutine_delete(to);
+        return;
+    default:
+        abort();
+    }
+}
+
+void qemu_coroutine_enter(Coroutine *co, void *opaque)
+{
+    Coroutine *self = qemu_coroutine_self();
+
+    trace_qemu_coroutine_enter(self, co, opaque);
+
+    if (co->caller) {
+        fprintf(stderr, "Co-routine re-entered recursively\n");
+        abort();
+    }
+
+    co->caller = self;
+    co->entry_arg = opaque;
+    coroutine_swap(self, co);
+}
+
+void coroutine_fn qemu_coroutine_yield(void)
+{
+    Coroutine *self = qemu_coroutine_self();
+    Coroutine *to = self->caller;
+
+    trace_qemu_coroutine_yield(self, to);
+
+    if (!to) {
+        fprintf(stderr, "Co-routine is yielding to no one\n");
+        abort();
+    }
+
+    self->caller = NULL;
+    coroutine_swap(self, to);
+}
diff --git a/qemu-coroutine.h b/qemu-coroutine.h
new file mode 100644
index 0000000..08255c7
--- /dev/null
+++ b/qemu-coroutine.h
@@ -0,0 +1,95 @@
+/*
+ * QEMU coroutine implementation
+ *
+ * Copyright IBM, Corp. 2011
+ *
+ * Authors:
+ *  Stefan Hajnoczi    <stefanha@linux.vnet.ibm.com>
+ *
+ * This work is licensed under the terms of the GNU LGPL, version 2 or later.
+ * See the COPYING.LIB file in the top-level directory.
+ *
+ */
+
+#ifndef QEMU_COROUTINE_H
+#define QEMU_COROUTINE_H
+
+#include <stdbool.h>
+
+/**
+ * Coroutines are a mechanism for stack switching and can be used for
+ * cooperative userspace threading.  These functions provide a simple but
+ * useful flavor of coroutines that is suitable for writing sequential code,
+ * rather than callbacks, for operations that need to give up control while
+ * waiting for events to complete.
+ *
+ * These functions are re-entrant and may be used outside the global mutex.
+ */
+
+/**
+ * Mark a function that executes in coroutine context
+ *
+ * Functions that execute in coroutine context cannot be called directly from
+ * normal functions.  In the future it would be nice to enable compiler or
+ * static checker support for catching such errors.  This annotation might make
+ * it possible and in the meantime it serves as documentation.
+ *
+ * For example:
+ *
+ *   static void coroutine_fn foo(void) {
+ *       ....
+ *   }
+ */
+#define coroutine_fn
+
+typedef struct Coroutine Coroutine;
+
+/**
+ * Coroutine entry point
+ *
+ * When the coroutine is entered for the first time, opaque is passed in as an
+ * argument.
+ *
+ * When this function returns, the coroutine is destroyed automatically and
+ * execution continues in the caller who last entered the coroutine.
+ */
+typedef void coroutine_fn CoroutineEntry(void *opaque);
+
+/**
+ * Create a new coroutine
+ *
+ * Use qemu_coroutine_enter() to actually transfer control to the coroutine.
+ */
+Coroutine *qemu_coroutine_create(CoroutineEntry *entry);
+
+/**
+ * Transfer control to a coroutine
+ *
+ * The opaque argument is passed as the argument to the entry point when
+ * entering the coroutine for the first time.  It is subsequently ignored.
+ */
+void qemu_coroutine_enter(Coroutine *coroutine, void *opaque);
+
+/**
+ * Transfer control back to a coroutine's caller
+ *
+ * This function does not return until the coroutine is re-entered using
+ * qemu_coroutine_enter().
+ */
+void coroutine_fn qemu_coroutine_yield(void);
+
+/**
+ * Get the currently executing coroutine
+ */
+Coroutine *coroutine_fn qemu_coroutine_self(void);
+
+/**
+ * Return whether or not currently inside a coroutine
+ *
+ * This can be used to write functions that work both when in coroutine context
+ * and when not in coroutine context.  Note that such functions cannot use the
+ * coroutine_fn annotation since they work outside coroutine context.
+ */
+bool qemu_in_coroutine(void);
+
+#endif /* QEMU_COROUTINE_H */
diff --git a/trace-events b/trace-events
index bebf612..ebe4df9 100644
--- a/trace-events
+++ b/trace-events
@@ -410,3 +410,8 @@ disable qemu_put_ram_ptr(void* addr) "%p"
 
 # hw/xen_platform.c
 disable xen_platform_log(char *s) "xen platform: %s"
+
+# qemu-coroutine.c
+disable qemu_coroutine_enter(void *from, void *to, void *opaque) "from %p to %p opaque %p"
+disable qemu_coroutine_yield(void *from, void *to) "from %p to %p"
+disable qemu_coroutine_terminate(void *co) "self %p"
