I have verified the host kernel BUG using a 14.04 host and guest combination:

[11266.585362] BUG: unable to handle kernel NULL pointer dereference at 0000000000000070
[11266.585396] IP: [<ffffffffa0321ca3>] handle_invept+0x123/0x170 [kvm_intel]
[11266.585430] PGD 0 
[11266.585436] Oops: 0000 [#1] SMP 
[11266.585452] Modules linked in: vhost_net vhost macvtap macvlan ipt_MASQUERADE iptable_nat nf_nat_ipv4 nf_nat nf_conntrack_ipv4 nf_defrag_ipv4 xt_conntrack nf_conntrack ipt_REJECT xt_CHECKSUM iptable_mangle xt_tcpudp bridge stp llc ip6table_filter ip6_tables iptable_filter ip_tables ebtable_nat ebtables x_tables kvm_intel snd_hda_intel snd_hda_codec snd_hwdep snd_pcm kvm snd_page_alloc crct10dif_pclmul snd_seq_midi crc32_pclmul snd_seq_midi_event ghash_clmulni_intel snd_rawmidi aesni_intel aes_x86_64 lrw gf128mul snd_seq glue_helper qxl ablk_helper cryptd snd_seq_device ttm snd_timer drm_kms_helper drm snd serio_raw rfcomm bnep bluetooth soundcore i2c_piix4 mac_hid parport_pc ppdev lp parport psmouse pata_acpi floppy [last unloaded: kvm_intel]
[11266.585506] CPU: 0 PID: 14128 Comm: qemu-system-x86 Not tainted 3.13.0-116-generic #163-Ubuntu
[11266.585509] Hardware name: QEMU Standard PC (i440FX + PIIX, 1996), BIOS Ubuntu-1.8.2-1ubuntu1 04/01/2014
[11266.585511] task: ffff88001d1dc800 ti: ffff88003d544000 task.ti: ffff88003d544000
[11266.585513] RIP: 0010:[<ffffffffa0321ca3>]  [<ffffffffa0321ca3>] handle_invept+0x123/0x170 [kvm_intel]
[11266.585523] RSP: 0018:ffff88003d545cb0  EFLAGS: 00010246
[11266.585525] RAX: 0000000000000000 RBX: ffff88003cd38000 RCX: 0000000000000000
[11266.585527] RDX: 0007fffffffff000 RSI: 00007f522360dd18 RDI: ffff88003d545cd8
[11266.585528] RBP: ffff88003d545cf0 R08: 0000000000000000 R09: 0000000000000010
[11266.585529] R10: 0000000000000000 R11: ffff88001f60da1e R12: 0000000000000001
[11266.585531] R13: 000000001061c100 R14: ffff88001d1dc800 R15: ffff88003cd38030
[11266.585533] FS:  00007f523085f700(0000) GS:ffff88003fc00000(0000) knlGS:0000000000000000
[11266.585535] CS:  0010 DS: 0000 ES: 0000 CR0: 0000000080050033
[11266.585536] CR2: 0000000000000070 CR3: 0000000036bb6000 CR4: 00000000001427f0
[11266.585545] Stack:
[11266.585547]  ffff88001f60dd08 ffff88003d545cf0 ffffffffa031f7b6 0000000000000000
[11266.585550]  0000000000000000 ffff88003cd38000 0000000000000032 0000000000000000
[11266.585553]  ffff88003d545d40 ffffffffa032347d ffffffffffffff10 ffffffff00000000
[11266.585556] Call Trace:
[11266.585571]  [<ffffffffa031f7b6>] ? handle_vmon+0x106/0x160 [kvm_intel]
[11266.585577]  [<ffffffffa032347d>] vmx_handle_exit+0xbd/0x8e0 [kvm_intel]
[11266.585677]  [<ffffffffa02230e5>] vcpu_enter_guest+0x8b5/0xd80 [kvm]
[11266.585684]  [<ffffffffa031f0b8>] ? vmx_deliver_posted_interrupt+0x38/0x90 [kvm_intel]
[11266.585702]  [<ffffffffa0242165>] ? kvm_apic_local_deliver+0x65/0x70 [kvm]
[11266.585718]  [<ffffffffa02275f8>] kvm_arch_vcpu_ioctl_run+0x1e8/0x460 [kvm]
[11266.585729]  [<ffffffffa0210fe2>] kvm_vcpu_ioctl+0x2a2/0x600 [kvm]
[11266.585779]  [<ffffffff810dcfd1>] ? futex_wake+0x1b1/0x1d0
[11266.585794]  [<ffffffff811d5ad0>] do_vfs_ioctl+0x2e0/0x4c0
[11266.585797]  [<ffffffff811d5d31>] SyS_ioctl+0x81/0xa0
[11266.585824]  [<ffffffff8173de1d>] system_call_fastpath+0x1a/0x1f
[11266.585826] Code: 48 89 df be 1c 00 00 00 e8 db 8f ff ff 48 89 df e8 83 d4 ff ff e9 22 ff ff ff 48 8b 83 98 3e 00 00 48 ba 00 f0 ff ff ff ff 07 00 <48> 8b 40 70 48 33 45 d8 48 85 d0 75 18 48 89 df e8 98 ec f0 ff 
[11266.585854] RIP  [<ffffffffa0321ca3>] handle_invept+0x123/0x170 [kvm_intel]
[11266.585860]  RSP <ffff88003d545cb0>
[11266.585861] CR2: 0000000000000070
[11266.585870] ---[ end trace 6a783f3041a996d7 ]---