A compressor may include a shell assembly, first and second scrolls, and a valve assembly. The shell assembly may define a discharge chamber. The first scroll may be disposed within the discharge chamber and may include a first end plate and a first spiral wrap. The first end plate may include a discharge passage in communication with the discharge chamber. The second scroll may be disposed within the discharge chamber and may include a second end plate and a second spiral wrap. The first and second spiral wraps define fluid pockets therebetween. The second end plate may include a port selectively communicating with one of the fluid pockets. The valve assembly may be mounted to the second scroll and may include a valve member that is movable between open and closed positions to allow and restrict communication between the port and the discharge chamber.