diff --git a/CHANGES b/CHANGES
index 9ee549a65..b05565cf8 100644
--- a/CHANGES
+++ b/CHANGES
@@ -58,6 +58,7 @@ Bugfixes:
  - GBA: Initialize gba.sync to null
  - GBA: Fix timer initialization
  - GBA Memory: Fix I cycles that had been moved to ARM7 core
+ - GBA Memory: Fix cycle counting for 32-bit load/stores
 Misc:
  - GBA Audio: Change internal audio sample buffer from 32-bit to 16-bit samples
  - GBA Memory: Simplify memory API and use fixed bus width
diff --git a/src/gba/memory.c b/src/gba/memory.c
index 93431f259..cde2abb43 100644
--- a/src/gba/memory.c
+++ b/src/gba/memory.c
@@ -1180,9 +1180,9 @@ void GBAAdjustWaitstates(struct GBA* gba, uint16_t parameters) {
 	memory->waitstatesSeq16[REGION_CART1] = memory->waitstatesSeq16[REGION_CART1_EX] = GBA_ROM_WAITSTATES_SEQ[ws1seq + 2];
 	memory->waitstatesSeq16[REGION_CART2] = memory->waitstatesSeq16[REGION_CART2_EX] = GBA_ROM_WAITSTATES_SEQ[ws2seq + 4];
 
-	memory->waitstatesNonseq32[REGION_CART0] = memory->waitstatesNonseq32[REGION_CART0_EX] = memory->waitstatesSeq16[REGION_CART0] + 1 + memory->waitstatesSeq16[REGION_CART0];
-	memory->waitstatesNonseq32[REGION_CART1] = memory->waitstatesNonseq32[REGION_CART1_EX] = memory->waitstatesSeq16[REGION_CART1] + 1 + memory->waitstatesSeq16[REGION_CART1];
-	memory->waitstatesNonseq32[REGION_CART2] = memory->waitstatesNonseq32[REGION_CART2_EX] = memory->waitstatesSeq16[REGION_CART2] + 1 + memory->waitstatesSeq16[REGION_CART2];
+	memory->waitstatesNonseq32[REGION_CART0] = memory->waitstatesNonseq32[REGION_CART0_EX] = memory->waitstatesNonseq16[REGION_CART0] + 1 + memory->waitstatesSeq16[REGION_CART0];
+	memory->waitstatesNonseq32[REGION_CART1] = memory->waitstatesNonseq32[REGION_CART1_EX] = memory->waitstatesNonseq16[REGION_CART1] + 1 + memory->waitstatesSeq16[REGION_CART1];
+	memory->waitstatesNonseq32[REGION_CART2] = memory->waitstatesNonseq32[REGION_CART2_EX] = memory->waitstatesNonseq16[REGION_CART2] + 1 + memory->waitstatesSeq16[REGION_CART2];
 
 	memory->waitstatesSeq32[REGION_CART0] = memory->waitstatesSeq32[REGION_CART0_EX] = 2 * memory->waitstatesSeq16[REGION_CART0] + 1;
 	memory->waitstatesSeq32[REGION_CART1] = memory->waitstatesSeq32[REGION_CART1_EX] = 2 * memory->waitstatesSeq16[REGION_CART1] + 1;