Unable to start a virtual machine with a PCI device attached (PCI passthrough)

Issue

• I would like to configure PCI passthrough FC to this guest. However, once it is allocated via virt-manager to the guest, I get the attached error

Error starting domain: internal error Process exited while reading console
log output: char device redirected to /dev/pts/1
qemu-kvm: -device
pci-assign,host=03:00.0,id=hostdev0,configfd=23,bus=pci.0,addr=0x6:
pci-assign: error: requires KVM support
qemu-kvm: -device
pci-assign,host=03:00.0,id=hostdev0,configfd=23,bus=pci.0,addr=0x6: Device
'pci-assign' could not be initialized


Traceback (most recent call last):
  File "/usr/share/virt-manager/virtManager/asyncjob.py", line 44, in
cb_wrapper
    callback(asyncjob, *args, **kwargs)
  File "/usr/share/virt-manager/virtManager/asyncjob.py", line 65, in tmpcb
    callback(*args, **kwargs)
  File "/usr/share/virt-manager/virtManager/domain.py", line 1114, in
startup
    self._backend.create()
  File "/usr/lib64/python2.6/site-packages/libvirt.py", line 678, in create
    if ret == -1: raise libvirtError ('virDomainCreate() failed', dom=self)
libvirtError: internal error Process exited while reading console log
output: char device redirected to /dev/pts/1
qemu-kvm: -device
pci-assign,host=03:00.0,id=hostdev0,configfd=23,bus=pci.0,addr=0x6:
pci-assign: error: requires KVM support
qemu-kvm: -device
pci-assign,host=03:00.0,id=hostdev0,configfd=23,bus=pci.0,addr=0x6: Device
'pci-assign' could not be initialized