diff --git a/xen/arch/x86/cpu/microcode/core.c b/xen/arch/x86/cpu/microcode/core.c
index 85c05e480d..d14754e222 100644
--- a/xen/arch/x86/cpu/microcode/core.c
+++ b/xen/arch/x86/cpu/microcode/core.c
@@ -27,6 +27,7 @@
 #include <xen/err.h>
 #include <xen/guest_access.h>
 #include <xen/init.h>
+#include <xen/multiboot.h>
 #include <xen/param.h>
 #include <xen/spinlock.h>
 #include <xen/stop_machine.h>
@@ -198,7 +199,8 @@ void __init microcode_scan_module(
         bootstrap_map(NULL);
     }
 }
-void __init microcode_grab_module(
+
+static void __init microcode_grab_module(
     unsigned long *module_map,
     const multiboot_info_t *mbi)
 {
@@ -732,25 +734,11 @@ int microcode_update_one(void)
     return microcode_update_cpu(NULL);
 }
 
-/* BSP calls this function to parse ucode blob and then apply an update. */
-static int __init early_microcode_update_cpu(void)
+static int __init early_update_cache(const void *data, size_t len)
 {
     int rc = 0;
-    const void *data = NULL;
-    size_t len;
     struct microcode_patch *patch;
 
-    if ( ucode_blob.size )
-    {
-        len = ucode_blob.size;
-        data = ucode_blob.data;
-    }
-    else if ( ucode_mod.mod_end )
-    {
-        len = ucode_mod.mod_end;
-        data = bootstrap_map(&ucode_mod);
-    }
-
     if ( !data )
         return -ENOMEM;
 
@@ -770,10 +758,64 @@ static int __init early_microcode_update_cpu(void)
     spin_unlock(&microcode_mutex);
     ASSERT(rc);
 
-    return microcode_update_one();
+    return rc;
 }
 
-int __init early_microcode_init(void)
+int __init microcode_init_cache(unsigned long *module_map,
+                                const struct multiboot_info *mbi)
+{
+    int rc = 0;
+
+    if ( ucode_scan )
+        /* Need to rescan the modules because they might have been relocated */
+        microcode_scan_module(module_map, mbi);
+
+    if ( ucode_mod.mod_end )
+        rc = early_update_cache(bootstrap_map(&ucode_mod),
+                                ucode_mod.mod_end);
+    else if ( ucode_blob.size )
+        rc = early_update_cache(ucode_blob.data, ucode_blob.size);
+
+    return rc;
+}
+
+/* BSP calls this function to parse ucode blob and then apply an update. */
+static int __init early_microcode_update_cpu(void)
+{
+    const void *data = NULL;
+    size_t len;
+    struct microcode_patch *patch;
+
+    if ( ucode_blob.size )
+    {
+        len = ucode_blob.size;
+        data = ucode_blob.data;
+    }
+    else if ( ucode_mod.mod_end )
+    {
+        len = ucode_mod.mod_end;
+        data = bootstrap_map(&ucode_mod);
+    }
+
+    if ( !data )
+        return -ENOMEM;
+
+    patch = ucode_ops.cpu_request_microcode(data, len, false);
+    if ( IS_ERR(patch) )
+    {
+        printk(XENLOG_WARNING "Parsing microcode blob error %ld\n",
+               PTR_ERR(patch));
+        return PTR_ERR(patch);
+    }
+
+    if ( !patch )
+        return -ENOENT;
+
+    return microcode_update_cpu(patch);
+}
+
+int __init early_microcode_init(unsigned long *module_map,
+                                const struct multiboot_info *mbi)
 {
     const struct cpuinfo_x86 *c = &boot_cpu_data;
     int rc = 0;
@@ -797,7 +839,9 @@ int __init early_microcode_init(void)
         return -ENODEV;
     }
 
-    alternative_vcall(ucode_ops.collect_cpu_info);
+    microcode_grab_module(module_map, mbi);
+
+    ucode_ops.collect_cpu_info();
 
     if ( ucode_mod.mod_end || ucode_blob.size )
         rc = early_microcode_update_cpu();
diff --git a/xen/arch/x86/include/asm/microcode.h b/xen/arch/x86/include/asm/microcode.h
index 3b0234e9fa..62ce3418f7 100644
--- a/xen/arch/x86/include/asm/microcode.h
+++ b/xen/arch/x86/include/asm/microcode.h
@@ -6,6 +6,8 @@
 
 #include <public/xen.h>
 
+struct multiboot_info;
+
 struct cpu_signature {
     /* CPU signature (CPUID.1.EAX). */
     unsigned int sig;
@@ -21,7 +23,10 @@ DECLARE_PER_CPU(struct cpu_signature, cpu_sig);
 
 void microcode_set_module(unsigned int idx);
 int microcode_update(XEN_GUEST_HANDLE(const_void), unsigned long len);
-int early_microcode_init(void);
+int early_microcode_init(unsigned long *module_map,
+                         const struct multiboot_info *mbi);
+int microcode_init_cache(unsigned long *module_map,
+                         const struct multiboot_info *mbi);
 int microcode_update_one(void);
 
 #endif /* ASM_X86__MICROCODE_H */
diff --git a/xen/arch/x86/include/asm/setup.h b/xen/arch/x86/include/asm/setup.h
index ae470ea12f..ae0dd3915a 100644
--- a/xen/arch/x86/include/asm/setup.h
+++ b/xen/arch/x86/include/asm/setup.h
@@ -44,9 +44,6 @@ void *bootstrap_map(const module_t *mod);
 
 int xen_in_range(unsigned long mfn);
 
-void microcode_grab_module(
-    unsigned long *, const multiboot_info_t *);
-
 extern uint8_t kbd_shift_flags;
 
 #ifdef NDEBUG
diff --git a/xen/arch/x86/setup.c b/xen/arch/x86/setup.c
index 4102aae76d..566422600d 100644
--- a/xen/arch/x86/setup.c
+++ b/xen/arch/x86/setup.c
@@ -1173,6 +1173,12 @@ void __init noreturn __start_xen(unsigned long mbi_p)
         mod[i].reserved = 0;
     }
 
+    /*
+     * TODO: load ucode earlier once multiboot modules become accessible
+     * at an earlier stage.
+     */
+    early_microcode_init(module_map, mbi);
+
     if ( xen_phys_start )
     {
         relocated = true;
@@ -1755,11 +1761,9 @@ void __init noreturn __start_xen(unsigned long mbi_p)
 
     init_IRQ();
 
-    microcode_grab_module(module_map, mbi);
-
     timer_init();
 
-    early_microcode_init();
+    microcode_init_cache(module_map, mbi); /* Needs xmalloc() */
 
     tsx_init(); /* Needs microcode.  May change HLE/RTM feature bits. */