diff --git a/qubes/storage/kernels.py b/qubes/storage/kernels.py
index a1a6b18d..b39d8b3d 100644
--- a/qubes/storage/kernels.py
+++ b/qubes/storage/kernels.py
@@ -105,10 +105,6 @@ class LinuxModules(Volume):
         return False
 
     def start(self):
-        path = self.path
-        if path and not os.path.exists(path):
-            raise StoragePoolException('Missing kernel modules: %s' % path)
-
         return self
 
     def stop(self):
@@ -116,12 +112,15 @@ class LinuxModules(Volume):
 
     def verify(self):
         if self.vid:
-            _check_path(self.path)
             _check_path(self.vmlinuz)
             _check_path(self.initramfs)
 
     def block_device(self):
-        if self.vid:
+        path = self.path
+        # create block device for modules.img only if:
+        # - there is kernel set for the VM
+        # - that kernel directory contains modules.img file
+        if path and os.path.exists(path):
             return super().block_device()
         return None
 
diff --git a/qubes/tests/storage_kernels.py b/qubes/tests/storage_kernels.py
index 7abcd0fa..9b067ef4 100644
--- a/qubes/tests/storage_kernels.py
+++ b/qubes/tests/storage_kernels.py
@@ -75,6 +75,8 @@ class TC_01_KernelVolumes(qubes.tests.QubesTestCase):
         self.app = TestApp()
         self.app.create_dummy_template()
         self.app.add_pool(**self.POOL_CONF)
+        os.makedirs(self.POOL_DIR + '/dummy', exist_ok=True)
+        open('/tmp/test-pool/dummy/modules.img', 'w').close()
 
     def tearDown(self):
         """ Remove the file based storage pool after testing """