A system and method of emulated input-output memory management units includes a management software associating a first device with a first input-output memory management unit having a first security designation, and associating a second device with a second input-output memory management unit having a second security designation different from the first security designation. A hypervisor constructs a table that describes associations between the plurality of devices and the plurality of input-output memory management units. The hypervisor provides the table to a guest virtual machine having a plurality of guest addresses including a first guest address and a second guest address. The first device accesses the first guest address through the first input-output memory management unit and the second device accesses the second guest address through the second input-output memory management unit.