How did you start QEMU with the new version here? You might need to specify the correct machine type with the new version to avoid that the guest sees different hardware (e.g. with the "-machine pc-i440fx-2.0" option).
** Changed in: qemu Status: New => Incomplete -- You received this bug notification because you are a member of qemu- devel-ml, which is subscribed to QEMU. https://bugs.launchpad.net/bugs/1318474 Title: QEMU update causes Windows reactivation Status in QEMU: Incomplete Bug description: After updating QEMU the guest OS's detect new hardware. As a result any Windows OS sees it as a significant change in hardware and require a reactivation. Host OS: Ubuntu 14.04 64-bit Guest OS's: Windows Server 2003 R2 Enterprise Windows Server 2008 R2 Enterprise Windows Server 2008 R2 Web Windows Server 2008 R2 Data Center QEMU version: 2.0.0 To manage notifications about this bug go to: https://bugs.launchpad.net/qemu/+bug/1318474/+subscriptions