Please find some more clarifications on VirtIO use with XenI don't think the support of PCI configuration space emulation for PVH would help there. The plan is to emulate in Xen, QEMU is still out of the equation there.
(I would like to thank Xen community for helping with this)
1. Possible security issues - VirtIO devices are PCI bus masters, thus
allowing real device (running, for example, in untrusted driver domain)
to get control over guest's memory by writing to its memory
2. VirtIO currently uses GFNs written into the shared ring, without Xen
grants support. This will require generic grant-mapping/sharing layer
to be added to VirtIO.
3. VirtIO requires QEMU PCI emulation for setting up a device. Xen PV (and PVH)
domains don't use QEMU for platform emulation in order to reduce attack surface.
(PVH is in the process of gaining PCI config space emulation though, but it is
optional, not a requirement)
4. Most of the PV drivers a guest uses at the moment are Xen PV drivers, e.g. net,
block, console, so only virtio-gpu will require QEMU to run.
Although this use case would work on x86 it will require additional changes
to get this running on ARM, which is my target platform.