diff --git a/libguile/jit.c b/libguile/jit.c
index d5d2a20c9..bee04db01 100644
--- a/libguile/jit.c
+++ b/libguile/jit.c
@@ -1308,6 +1308,7 @@ compile_alloc_frame (scm_jit_state *j, uint32_t nlocals)
       jit_node_t *head, *k, *back;
       jit_movi (T0, SCM_UNPACK (SCM_UNDEFINED));
       k = jit_bler (T3_PRESERVED, SP);
+      jit_subi (T3_PRESERVED, T3_PRESERVED, sizeof (union scm_vm_stack_element));
       head = jit_label ();
       jit_str (T3_PRESERVED, T0);
       jit_subi (T3_PRESERVED, T3_PRESERVED, sizeof (union scm_vm_stack_element));