event->path, event->token))) {
                spin_lock(&watch_events_lock);
                list_add_tail(&event->list, &watch_events);
+               event->handle->nr_pending++;
                wake_up(&watch_events_waitq);
                spin_unlock(&watch_events_lock);
        } else
 
        sprintf(token, "%lX", (long)watch);
 
+       watch->nr_pending = 0;
+
        down_read(&xs_watch_rwsem);
 
        spin_lock(&watches_lock);
 
        /* Cancel pending watch events. */
        spin_lock(&watch_events_lock);
-       list_for_each_entry_safe(event, tmp, &watch_events, list) {
-               if (event->handle != watch)
-                       continue;
-               list_del(&event->list);
-               kfree(event);
+       if (watch->nr_pending) {
+               list_for_each_entry_safe(event, tmp, &watch_events, list) {
+                       if (event->handle != watch)
+                               continue;
+                       list_del(&event->list);
+                       kfree(event);
+               }
+               watch->nr_pending = 0;
        }
        spin_unlock(&watch_events_lock);
 
 
 static int xenwatch_thread(void *unused)
 {
-       struct list_head *ent;
        struct xs_watch_event *event;
 
        xenwatch_pid = current->pid;
                mutex_lock(&xenwatch_mutex);
 
                spin_lock(&watch_events_lock);
-               ent = watch_events.next;
-               if (ent != &watch_events)
-                       list_del(ent);
+               event = list_first_entry_or_null(&watch_events,
+                               struct xs_watch_event, list);
+               if (event) {
+                       list_del(&event->list);
+                       event->handle->nr_pending--;
+               }
                spin_unlock(&watch_events_lock);
 
-               if (ent != &watch_events) {
-                       event = list_entry(ent, struct xs_watch_event, list);
+               if (event) {
                        event->handle->callback(event->handle, event->path,
                                                event->token);
                        kfree(event);