A method for monitoring and emulating privileged instructions of a program that is being executed at a privilege level in a virtual machine is disclosed. A privilege level associated with a received instruction is determined. The instruction privilege level is compared to the program execution privilege level. If the instruction privilege level is valid with respect to the program execution privilege level, the instruction is executed. If the instruction privilege level is invalid with respect to the program execution privilege level: the instruction result is emulated; the number of times the instruction has been received from the program is checked; and if the instruction has been received more than a specified number of times, the instruction is overwritten with one or more instructions with a valid privilege level with respect to the program execution privilege level.