diff --git a/rpcs3/Emu/Cell/lv2/sys_event.cpp b/rpcs3/Emu/Cell/lv2/sys_event.cpp
index 248edfe5d3..dea1ff1974 100644
--- a/rpcs3/Emu/Cell/lv2/sys_event.cpp
+++ b/rpcs3/Emu/Cell/lv2/sys_event.cpp
@@ -122,22 +122,24 @@ error_code sys_event_queue_create(vm::ptr<u32> equeue_id, vm::ptr<sys_event_queu
 
 	auto queue = std::make_shared<lv2_event_queue>(protocol, type, attr->name_u64, event_queue_key, size);
 
+	CellError error = CELL_EAGAIN;
+
 	if (event_queue_key == SYS_EVENT_QUEUE_LOCAL)
 	{
 		// Not an IPC queue
-		if (const u32 _id = idm::import_existing<lv2_obj, lv2_event_queue>(std::move(queue)))
+		if (const u32 _id = idm::import<lv2_obj, lv2_event_queue>([&]() { if ((error = queue->on_id_create())) queue.reset(); return std::move(queue); } ))
 		{
 			*equeue_id = _id;
 			return CELL_OK;
 		}
 
-		return CELL_EAGAIN;
+		return error;
 	}
 
 	// Create IPC queue
 	if (!ipc_manager<lv2_event_queue, u64>::add(event_queue_key, [&]() -> std::shared_ptr<lv2_event_queue>
 	{
-		if (const u32 _id = idm::import_existing<lv2_obj, lv2_event_queue>(queue))
+		if (const u32 _id = idm::import<lv2_obj, lv2_event_queue>([&]() { if ((error = queue->on_id_create())) return decltype(queue){}; return queue; } ))
 		{
 			*equeue_id = _id;
 			return std::move(queue);
@@ -151,7 +153,7 @@ error_code sys_event_queue_create(vm::ptr<u32> equeue_id, vm::ptr<sys_event_queu
 
 	if (queue)
 	{
-		return CELL_EAGAIN;
+		return error;
 	}
 
 	return CELL_OK;
@@ -177,7 +179,7 @@ error_code sys_event_queue_destroy(ppu_thread& ppu, u32 equeue_id, s32 mode)
 			return CELL_EBUSY;
 		}
 
-		queue.exists = false;
+		queue.exists--;
 		return {};
 	});
 
diff --git a/rpcs3/Emu/Cell/lv2/sys_event.h b/rpcs3/Emu/Cell/lv2/sys_event.h
index fd49fb6c95..f423e18aed 100644
--- a/rpcs3/Emu/Cell/lv2/sys_event.h
+++ b/rpcs3/Emu/Cell/lv2/sys_event.h
@@ -85,7 +85,7 @@ struct lv2_event_queue final : public lv2_obj
 	const u64 key;
 	const s32 size;
 
-	atomic_t<bool> exists = true; // Existence validation (workaround for shared-ptr ref-counting)
+	atomic_t<u32> exists = 0; // Existence validation (workaround for shared-ptr ref-counting)
 	shared_mutex mutex;
 	std::deque<lv2_event> events;
 	std::deque<cpu_thread*> sq;
@@ -112,6 +112,12 @@ struct lv2_event_queue final : public lv2_obj
 	// Check queue ptr validity (use 'exists' member)
 	static bool check(const std::weak_ptr<lv2_event_queue>&);
 	static bool check(const std::shared_ptr<lv2_event_queue>&);
+
+	CellError on_id_create()
+	{
+		exists++;
+		return {};
+	}
 };
 
 struct lv2_event_port final : lv2_obj