diff --git a/fs/pipe.c b/fs/pipe.c
index e8082ffe5171..9873a6030df5 100644
--- a/fs/pipe.c
+++ b/fs/pipe.c
@@ -1301,6 +1301,11 @@ int pipe_resize_ring(struct pipe_inode_info *pipe, unsigned int nr_slots)
 	pipe->tail = tail;
 	pipe->head = head;
 
+	if (!pipe_has_watch_queue(pipe)) {
+		pipe->max_usage = nr_slots;
+		pipe->nr_accounted = nr_slots;
+	}
+
 	spin_unlock_irq(&pipe->rd_wait.lock);
 
 	/* This might have made more room for writers */
@@ -1352,8 +1357,6 @@ static long pipe_set_size(struct pipe_inode_info *pipe, unsigned long arg)
 	if (ret < 0)
 		goto out_revert_acct;
 
-	pipe->max_usage = nr_slots;
-	pipe->nr_accounted = nr_slots;
 	return pipe->max_usage * PAGE_SIZE;
 
 out_revert_acct: