diff --git a/Makefile b/Makefile
index 8aca92f0bd..58e352772c 100644
--- a/Makefile
+++ b/Makefile
@@ -167,9 +167,7 @@ recurse-all: $(SUBDIR_RULES) $(ROMSUBDIR_RULES)
 bt-host.o: QEMU_CFLAGS += $(BLUEZ_CFLAGS)
 
 version.o: $(SRC_PATH)/version.rc config-host.h | version.lo
-	$(call quiet-command,$(WINDRES) -I. -o $@ $<,"  RC    $(TARGET_DIR)$@")
 version.lo: $(SRC_PATH)/version.rc config-host.h
-	$(call quiet-command,$(LIBTOOL) --mode=compile --tag=RC $(WINDRES) -I. -o $@ $<,"lt RC   $(TARGET_DIR)$@")
 
 version-obj-$(CONFIG_WIN32) += version.o
 version-lobj-$(CONFIG_WIN32) += $(if $(LIBTOOL),version.lo)
diff --git a/rules.mak b/rules.mak
index 292a42299f..279525d3d3 100644
--- a/rules.mak
+++ b/rules.mak
@@ -19,6 +19,8 @@ QEMU_CFLAGS += -I$(<D) -I$(@D)
 
 %.o: %.c
 	$(call quiet-command,$(CC) $(QEMU_INCLUDES) $(QEMU_CFLAGS) $(QEMU_DGFLAGS) $(CFLAGS) -c -o $@ $<,"  CC    $(TARGET_DIR)$@")
+%.o: %.rc
+	$(call quiet-command,$(WINDRES) -I. -o $@ $<,"  RC    $(TARGET_DIR)$@")
 
 ifeq ($(LIBTOOL),)
 LIBTOOL = /bin/false
@@ -29,6 +31,8 @@ else
 LIBTOOL += $(if $(V),,--quiet)
 %.lo: %.c
 	$(call quiet-command,$(LIBTOOL) --mode=compile --tag=CC $(CC) $(QEMU_INCLUDES) $(QEMU_CFLAGS) $(QEMU_DGFLAGS) $(CFLAGS) -c -o $@ $<,"  lt CC $@")
+%.lo: %.rc
+	$(call quiet-command,$(LIBTOOL) --mode=compile --tag=RC $(WINDRES) -I. -o $@ $<,"lt RC   $(TARGET_DIR)$@")
 %.lo: %.dtrace
 	$(call quiet-command,$(LIBTOOL) --mode=compile --tag=CC dtrace -o $@ -G -s $<, " lt GEN $(TARGET_DIR)$@")