diff --git a/Source/Core/Core/Boot/Boot_BS2Emu.cpp b/Source/Core/Core/Boot/Boot_BS2Emu.cpp
index e3ba2536da..61dd1dbb8c 100644
--- a/Source/Core/Core/Boot/Boot_BS2Emu.cpp
+++ b/Source/Core/Core/Boot/Boot_BS2Emu.cpp
@@ -275,7 +275,7 @@ bool CBoot::SetupWiiMemory(u64 ios_title_id)
   Memory::Write_U16(0x8201, 0x000030e6);                // Dev console / debug capable
   Memory::Write_U32(0x00000000, 0x000030f0);            // Apploader
 
-  if (!IOS::HLE::SetupMemory(ios_title_id))
+  if (!IOS::HLE::Reload(ios_title_id))
   {
     return false;
   }
diff --git a/Source/Core/Core/IOS/ES/ES.cpp b/Source/Core/Core/IOS/ES/ES.cpp
index abe00c215a..f956d0824a 100644
--- a/Source/Core/Core/IOS/ES/ES.cpp
+++ b/Source/Core/Core/IOS/ES/ES.cpp
@@ -1176,9 +1176,7 @@ IPCCommandResult ES::Launch(const IOCtlVRequest& request)
         wiiMoteConnected[i] = s_Usb->m_WiiMotes[i].IsConnected();
     }
 
-    Reset(true);
-    Reinit();
-    SetupMemory(ios_to_load);
+    Reload(ios_to_load);
     bReset = true;
 
     if (!SConfig::GetInstance().m_bt_passthrough_enabled)
diff --git a/Source/Core/Core/IOS/IPC.cpp b/Source/Core/Core/IOS/IPC.cpp
index 1580791a80..cb0876527e 100644
--- a/Source/Core/Core/IOS/IPC.cpp
+++ b/Source/Core/Core/IOS/IPC.cpp
@@ -421,7 +421,7 @@ u32 GetVersion()
   return static_cast<u32>(s_active_title_id);
 }
 
-bool SetupMemory(u64 ios_title_id)
+static bool SetupMemory(u64 ios_title_id)
 {
   auto target_imv = std::find_if(
       ios_memory_values.begin(), ios_memory_values.end(),
@@ -433,8 +433,6 @@ bool SetupMemory(u64 ios_title_id)
     return false;
   }
 
-  s_active_title_id = ios_title_id;
-
   Memory::Write_U32(target_imv->mem1_physical_size, ADDR_MEM1_SIZE);
   Memory::Write_U32(target_imv->mem1_simulated_size, ADDR_MEM1_SIM_SIZE);
   Memory::Write_U32(target_imv->mem1_end, ADDR_MEM1_END);
@@ -477,7 +475,7 @@ std::shared_ptr<T> AddDevice(const char* device_name)
   return device;
 }
 
-void Reinit()
+static void AddStaticDevices()
 {
   std::lock_guard<std::mutex> lock(s_device_map_mutex);
   _assert_msg_(IOS, s_device_map.empty(), "Reinit called while already initialized");
@@ -519,13 +517,12 @@ void Reinit()
 
 void Init()
 {
-  Reinit();
-
+  AddStaticDevices();
   s_event_enqueue = CoreTiming::RegisterEvent("IPCEvent", EnqueueEvent);
   s_event_sdio_notify = CoreTiming::RegisterEvent("SDIO_EventNotify", SDIO_EventNotify_CPUThread);
 }
 
-void Reset(bool hard)
+void Reset(const bool clear_devices)
 {
   CoreTiming::RemoveAllEvents(s_event_enqueue);
 
@@ -538,7 +535,7 @@ void Reset(bool hard)
     device.reset();
   }
 
-  if (hard)
+  if (clear_devices)
   {
     std::lock_guard<std::mutex> lock(s_device_map_mutex);
     s_device_map.clear();
@@ -555,6 +552,18 @@ void Shutdown()
   Reset(true);
 }
 
+bool Reload(const u64 ios_title_id)
+{
+  if (!SetupMemory(ios_title_id))
+    return false;
+
+  s_active_title_id = ios_title_id;
+  Reset(true);
+
+  AddStaticDevices();
+  return true;
+}
+
 void SetDefaultContentFile(const std::string& file_name)
 {
   std::lock_guard<std::mutex> lock(s_device_map_mutex);
@@ -618,6 +627,7 @@ void DoState(PointerWrap& p)
   p.Do(s_request_queue);
   p.Do(s_reply_queue);
   p.Do(s_last_reply_time);
+  p.Do(s_active_title_id);
 
   // We need to make sure all file handles are closed so IOS::HLE::Device::FS::DoState can
   // successfully save or re-create /tmp
diff --git a/Source/Core/Core/IOS/IPC.h b/Source/Core/Core/IOS/IPC.h
index 7508be12f9..09b3c1179c 100644
--- a/Source/Core/Core/IOS/IPC.h
+++ b/Source/Core/Core/IOS/IPC.h
@@ -45,21 +45,16 @@ enum IPCCommandType : u32
   IPC_REPLY = 8,
 };
 
-// Init
+// Init events and devices
 void Init();
-
-// Needs to be called after Reset(true) to recreate the device tree
-void Reinit();
-
-u32 GetVersion();
-
-bool SetupMemory(u64 ios_title_id);
-
+// Reset all events and devices (and optionally clear them)
+void Reset(bool clear_devices = false);
 // Shutdown
 void Shutdown();
 
-// Reset
-void Reset(bool hard = false);
+// Reload IOS (to a possibly different version); set up memory and devices.
+bool Reload(u64 ios_title_id);
+u32 GetVersion();
 
 // Do State
 void DoState(PointerWrap& p);
diff --git a/Source/Core/Core/State.cpp b/Source/Core/Core/State.cpp
index 7714659954..0073b9ea4b 100644
--- a/Source/Core/Core/State.cpp
+++ b/Source/Core/Core/State.cpp
@@ -71,7 +71,7 @@ static Common::Event g_compressAndDumpStateSyncEvent;
 static std::thread g_save_thread;
 
 // Don't forget to increase this after doing changes on the savestate system
-static const u32 STATE_VERSION = 76;  // Last changed in PR 4829
+static const u32 STATE_VERSION = 77;  // Last changed in PR 4784
 
 // Maps savestate versions to Dolphin versions.
 // Versions after 42 don't need to be added to this list,