diff --git a/CHANGELOG.md b/CHANGELOG.md
index d098e7c5ac..8324c5c5cb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,12 @@ Notable changes to Xen will be documented in this file.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/)
 
+## [4.20.3](https://xenbits.xenproject.org/gitweb/?p=xen.git;a=shortlog;h=RELEASE-4.20.3)
+
+### Added
+ - On x86:
+   - Support for CPIO microcode in discrete multiboot modules.
+
 ## [4.20.1](https://xenbits.xenproject.org/gitweb/?p=xen.git;a=shortlog;h=RELEASE-4.20.1)
 
 ### Added
diff --git a/xen/arch/x86/cpu/microcode/core.c b/xen/arch/x86/cpu/microcode/core.c
index dc913ff333..d565fa3e48 100644
--- a/xen/arch/x86/cpu/microcode/core.c
+++ b/xen/arch/x86/cpu/microcode/core.c
@@ -749,6 +749,7 @@ static int __init early_microcode_load(struct boot_info *bi)
     void *data = NULL;
     size_t size;
     struct microcode_patch *patch;
+    struct cpio_data cd;
     int idx = opt_mod_idx;
     int rc;
 
@@ -765,7 +766,6 @@ static int __init early_microcode_load(struct boot_info *bi)
         for ( idx = 0; idx < bi->nr_modules; ++idx )
         {
             const struct boot_module *bm = &bi->mods[idx];
-            struct cpio_data cd;
 
             /* Search anything unclaimed or likely to be a CPIO archive. */
             if ( bm->type != BOOTMOD_UNKNOWN &&
@@ -834,6 +834,24 @@ static int __init early_microcode_load(struct boot_info *bi)
                    idx, size);
             return -ENODEV;
         }
+
+        /*
+         * If this blob appears to be a CPIO archive, try interpreting it as
+         * one.  Otherwise treat it as a raw vendor blob.
+         */
+        cd = find_cpio_data(ucode_ops.cpio_path, data, size);
+        if ( cd.data )
+        {
+            data = cd.data;
+            size = cd.size;
+
+            /*
+             * (Ab)use opt_scan to inform microcode_init_cache() that
+             * early_mod_idx refers to a CPIO archive.
+             */
+            opt_scan = true;
+        }
+
         goto found;
     }