diff --git a/linux/linux.mk b/linux/linux.mk
index c963f2f47f..010ed3497e 100644
--- a/linux/linux.mk
+++ b/linux/linux.mk
@@ -532,7 +532,8 @@ endef
 # Run depmod in a target-finalize hook, to encompass modules installed by
 # packages.
 define LINUX_RUN_DEPMOD
-	if grep -q "CONFIG_MODULES=y" $(LINUX_DIR)/.config; then \
+	if test -d $(TARGET_DIR)/lib/modules/$(LINUX_VERSION_PROBED) \
+		&& grep -q "CONFIG_MODULES=y" $(LINUX_DIR)/.config; then \
 		$(HOST_DIR)/sbin/depmod -a -b $(TARGET_DIR) $(LINUX_VERSION_PROBED); \
 	fi
 endef