The synthetic effects of group-velocity mismatch and cubic-quintic nonlinearity on cross-phase modulation induced modulation instability in loss single-mode optical fibers have been numerically investigated. The results show that the quintic nonlinearity plays a role similar to the case of neglecting the group-velocity mismatch in modifying the modulation instability, namely, the positive and negative quintic nonlinearities can still enhance and weaken the modulation instability, respectively. The group-velocity mismatch can considerably change the gain spectrum of modulation instability in terms of its shape, peak value, and position. In the normal dispersion regime, with the increase of the group-velocity mismatch parameter, the gain spectrum widens and then narrows, shifts to higher frequencies, and the peak value gets higher before approaching a saturable value. In the abnormal dispersion regime, two separated spectra may occur when the group-velocity mismatch is taken into account. With the increase of the group-velocity mismatch parameter, the peak value of the gain spectrum gets higher and shorter before tending to a saturable value for the first and second spectral regimes, respectively.