diff --git a/target-ppc/op.c b/target-ppc/op.c
index 98d788585b45db5d11e5172f5712ab630ca79657..7916b83c50bafb7b47bd5399d1be87d37a579656 100644
--- a/target-ppc/op.c
+++ b/target-ppc/op.c
@@ -220,8 +220,8 @@ PPC_OP(queue_exception)
 
 PPC_OP(process_exceptions)
 {
+    env->nip = PARAM(1);
     if (env->exceptions != 0) {
-        env->nip = PARAM(1);
         do_check_exception_state();
     }
 }