diff --git a/hw/ppc/pnv.c b/hw/ppc/pnv.c
index d95086fbbd..6ead82aaa7 100644
--- a/hw/ppc/pnv.c
+++ b/hw/ppc/pnv.c
@@ -1361,7 +1361,11 @@ static void pnv_machine_class_init(ObjectClass *oc, void *data)
                                       * storage */
     mc->no_parallel = 1;
     mc->default_boot_order = NULL;
-    mc->default_ram_size = 1 * GiB;
+    /*
+     * RAM defaults to less than 2048 for 32-bit hosts, and large
+     * enough to fit the maximum initrd size at it's load address
+     */
+    mc->default_ram_size = INITRD_LOAD_ADDR + INITRD_MAX_SIZE;
     xic->icp_get = pnv_icp_get;
     xic->ics_get = pnv_ics_get;
     xic->ics_resend = pnv_ics_resend;