diff --git a/libguile/vm-i-system.c b/libguile/vm-i-system.c
index 313a577eb..39dcb9d3b 100644
--- a/libguile/vm-i-system.c
+++ b/libguile/vm-i-system.c
@@ -1069,7 +1069,7 @@ VM_DEFINE_INSTRUCTION (return_values, "return/values", 1, -1, -1)
       *++sp = stack_base[1];
              
       /* Finally set new stack_base */
-      NULLSTACK (stack_base - sp);
+      NULLSTACK (stack_base - sp + nvalues + 1);
       stack_base = SCM_FRAME_UPPER_ADDRESS (fp) - 1;
     }
   else
diff --git a/testsuite/t-values.scm b/testsuite/t-values.scm
index 565f64e07..f4c0516a3 100644
--- a/testsuite/t-values.scm
+++ b/testsuite/t-values.scm
@@ -5,5 +5,9 @@
       ;; the start-stack forces a bounce through the interpreter
       (call-with-values
           (lambda () (start-stack 'foo (values 1 2)))
+        list)
+
+      (call-with-values
+          (lambda () (apply values '(1)))
         list))