diff --git a/docs/formatdomain.rst b/docs/formatdomain.rst
index e115165ad2..aa7bb8da14 100644
--- a/docs/formatdomain.rst
+++ b/docs/formatdomain.rst
@@ -3135,6 +3135,12 @@ paravirtualized driver is specified via the ``disk`` element.
    disk transient prevents the domain from participating in migration,
    snapshots, or blockjobs. Only supported in vmx hypervisor
    (:since:`Since 0.9.5`) and ``qemu`` hypervisor (:since:`Since 6.9.0`).
+
+   In cases where the source image of the ``<transient/>`` disk is supposed to
+   be shared between multiple concurrently running VMs the optional
+   ``shareBacking`` attribute should be set to ``yes``. Note that hypervisor
+   drivers may need to hotplug such disk and thus it works only with
+   configurations supporting hotplug. :since:`Since 7.4.0`
 ``serial``
    If present, this specify serial number of virtual hard drive. For example, it
    may look like ``<serial>WD-WMAP9A966149</serial>``. Not supported for
diff --git a/docs/schemas/domaincommon.rng b/docs/schemas/domaincommon.rng
index 66a581c514..38f9d3f599 100644
--- a/docs/schemas/domaincommon.rng
+++ b/docs/schemas/domaincommon.rng
@@ -1429,6 +1429,11 @@
       </optional>
       <optional>
         <element name="transient">
+          <optional>
+            <attribute name="shareBacking">
+              <ref name='virYesNo'/>
+            </attribute>
+          </optional>
           <empty/>
         </element>
       </optional>
diff --git a/src/conf/domain_conf.c b/src/conf/domain_conf.c
index e27154f22d..4f78b7b43d 100644
--- a/src/conf/domain_conf.c
+++ b/src/conf/domain_conf.c
@@ -9047,6 +9047,7 @@ virDomainDiskDefParseXML(virDomainXMLOption *xmlopt,
     xmlNodePtr blockioNode;
     xmlNodePtr driverNode;
     xmlNodePtr mirrorNode;
+    xmlNodePtr transientNode;
     g_autoptr(virStorageSource) src = NULL;
 
     if (!(src = virDomainDiskDefParseSourceXML(xmlopt, node, ctxt, flags)))
@@ -9155,9 +9156,15 @@ virDomainDiskDefParseXML(virDomainXMLOption *xmlopt,
         }
     }
 
-    if (virXPathNode("./transient", ctxt))
+    if ((transientNode = virXPathNode("./transient", ctxt))) {
         def->transient = true;
 
+        if (virXMLPropTristateBool(transientNode, "shareBacking",
+                                   VIR_XML_PROP_NONE,
+                                   &def->transientShareBacking) < 0)
+            return NULL;
+    }
+
     if (virDomainDiskDefIotuneParse(def, ctxt) < 0)
         return NULL;
 
@@ -23551,8 +23558,12 @@ virDomainDiskDefFormat(virBuffer *buf,
         virBufferAddLit(buf, "<readonly/>\n");
     if (def->src->shared)
         virBufferAddLit(buf, "<shareable/>\n");
-    if (def->transient)
-        virBufferAddLit(buf, "<transient/>\n");
+    if (def->transient) {
+        virBufferAddLit(buf, "<transient");
+        if (def->transientShareBacking == VIR_TRISTATE_BOOL_YES)
+            virBufferAddLit(buf, " shareBacking='yes'");
+        virBufferAddLit(buf, "/>\n");
+    }
     virBufferEscapeString(buf, "<serial>%s</serial>\n", def->serial);
     virBufferEscapeString(buf, "<wwn>%s</wwn>\n", def->wwn);
     virBufferEscapeString(buf, "<vendor>%s</vendor>\n", def->vendor);
diff --git a/src/conf/domain_conf.h b/src/conf/domain_conf.h
index f38ab21a3b..bf1249571d 100644
--- a/src/conf/domain_conf.h
+++ b/src/conf/domain_conf.h
@@ -575,6 +575,7 @@ struct _virDomainDiskDef {
     unsigned int snapshot; /* virDomainSnapshotLocation, snapshot_conf.h */
     virDomainStartupPolicy startupPolicy;
     bool transient;
+    virTristateBool transientShareBacking;
     virDomainDeviceInfo info;
     virTristateBool rawio;
     virDomainDeviceSGIO sgio;