Quite possibly one of the best reasons not to do Smolov.
Like others have said, Smolov + caloric deficit = badness.
On a completely different note you could try clusters. That's something I have found to be quite effective over short periods to quickly boost my max lift. How well they'd work with a caloric deficit is debatable, but I'm fairly sure it'd be less disastrous than Smolov.
For example, you could go for singles at 85% and do as many as you can with 30 second rests. Stop when the bar slows down significantly or you reach 10 reps. The week after do the same with 90%, then a week later with 95%.
I'm currently doing that with my deadlift.
There are some great articles on this site by Christian Thibaudeau about clusters. I'd recommend checking them out.