Manchester City will relish the "incredible test" of facing Real Madrid in the Champions League semi-finals as Pep Guardiola reminded his players they require two "exceptional" performances to reach the final.

Having eliminated Madrid from the Champions League in the 2010-11 semi-finals as Barcelona boss and in a 2019-20 last-16 tie with City, Guardiola could become the first coach to have knocked Los Blancos out of the competition three times.

City have also remained undefeated in their previous three home Champions League matches against Real Madrid (one win, two draws) ahead of Tuesday's crucial first leg at the Etihad Stadium.

However, while City are still awaiting their first European title after falling at the final hurdle against Chelsea last season, Madrid are aiming to be crowned kings of Europe for a 14th time this term, but Guardiola says his team will relish the "incredible test" of facing the Spanish champions-elect.

"If we had to compete with their history, we wouldn't have any chance – they are better," he said. "Their history speaks for itself. We have the desire to compete against them. For us, playing against them is an incredible test and we want to try it. We'll have to suffer, stick together, and try to do as best as possible.

"It would be the same against Bayern or Barcelona. They are a team many times in this position [the latter stages]. In the last decade we were almost never here, and now we are, which is good.

"The history's there, we cannot change it, but tomorrow we play 11 against 11, with one ball moving, and the players will decide. Of course, we'll play against players that have been in this position many times, even beyond, reaching finals and winning.

"We can imagine or plan what is going to happen but it's a game of 11 against 11. The players will make the difference, I don't think Carlo [Ancelotti] or myself will win this semi-final."

This will be the seventh meeting between City and Real Madrid in European competition, with each of the previous six coming in the Champions League since 2012-13. After failing to win the first four (two draws, two losses), the Premier League champions won both legs in the last-16 against them in this competition in 2019-20.

Guardiola, however, said City's most recent encounter with Madrid will count for nothing, highlighting the "tight" nature of that tie and cautioning that City need two "exceptional" performances to progress.

However, the 51-year-old also said competing with Madrid in the final four was an "honour" and praised his team for making it this far, telling them to enjoy the moment.

"When we went through against Real Madrid, it was tight, two tight games. We went out in the quarter-finals in other seasons when it was tight too," Guardiola added. "I always had the feeling, with Barcelona, with Bayern Munich and then here, of how nice it is being there in the latter stages with the best teams in the world.

"Now we have to try to be ourselves. We'll need two exceptional games to reach the final, and hopefully we can do it. It's not necessary to say how much we respect Real Madrid and how good they are. It's an honour.

"We want to reach the final and win the final, but I could never underestimate what we have [already] done and the fact that we are here.

"Two times in a row being in the semi-finals is so good. Many teams are not here, good ones. One day we will not be here because it is so demanding, and you have to be so precise. So I told the players to enjoy this moment, I don't know what's going to happen, you never know if we will ever be back in this position."

Guardiola has faced Ancelotti on six previous occasions, winning four and losing two. However, all four of his victories came when Ancelotti was at Everton, with the Italian winning their two Champions League meetings, both in the 2013-14 semi-finals (Real Madrid's 5-0 aggregate win over Bayern Munich).