That seems to be the case.
Note that you'd have to user vt-d, in combination with vfio, not virtio. Vt-d allows for PCIe passthrough. VirtIO is a family of paravirtualized hardware like HDD controllers and network interfaces.
Besides the name-switchup, you're completely right.
https://wiki.libvirt.org/page/Virtio
https://software.intel.com/en-us/articles/intel-virtualizati...