diff --git a/crates/virtio-queue-ser/CHANGELOG.md b/crates/virtio-queue-ser/CHANGELOG.md
index 346d27a4..f0a2fb5d 100644
--- a/crates/virtio-queue-ser/CHANGELOG.md
+++ b/crates/virtio-queue-ser/CHANGELOG.md
@@ -1,3 +1,15 @@
+# v0.4.0
+
+## Added 
+
+- Derived `Eq` for `state::QueueStateSer`.
+
+## Changed
+- Updated vm-memory from 0.9.0 to 0.10.0.
+- Updated virtio-queue from 0.6.1 to 0.7.0 and fix version to exactly 0.7.0 to ensure the crates 
+  are always updated in lock-step.
+- Upgrade rust edition to 2021
+
 # v0.3.0
 
 ## Changed
diff --git a/crates/virtio-queue-ser/Cargo.toml b/crates/virtio-queue-ser/Cargo.toml
index ea77fc20..d347c49e 100644
--- a/crates/virtio-queue-ser/Cargo.toml
+++ b/crates/virtio-queue-ser/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "virtio-queue-ser"
-version = "0.3.0"
+version = "0.4.0"
 authors = ["rust-vmm AWS maintainers <rust-vmm-maintainers@amazon.com>"]
 description = "Serialization for virtio queue state"
 repository = "https://github.com/rust-vmm/vm-virtio"
@@ -14,5 +14,8 @@ serde = { version = "1.0.27", features = ["derive"] }
 versionize = "0.1.6"
 versionize_derive = "0.1.3"
 # The `path` part gets stripped when publishing the crate.
+# We use `=0.7.0` as we maintain a 1:1-relationship between virtio-queue
+# and virtio-queue-ser releases. This is to prevent accidental changes
+# to the serializer output in a patch release of virtio-queue. 
 virtio-queue = { path = "../../crates/virtio-queue", version = "=0.7.0" }
 vm-memory = "0.10.0"