diff --git a/src/node.js b/src/node.js
index 7301d9d114..a4d86da6a9 100644
--- a/src/node.js
+++ b/src/node.js
@@ -877,6 +877,7 @@
     this.id = id;
     this.exports = {};
     this.loaded = false;
+    this.loading = true;
   }
 
   NativeModule._source = process.binding('natives');
@@ -888,7 +889,7 @@
     }
 
     var cached = NativeModule.getCached(id);
-    if (cached) {
+    if (cached && (cached.loaded || cached.loading)) {
       return cached.exports;
     }
 
@@ -952,13 +953,18 @@
     var source = NativeModule.getSource(this.id);
     source = NativeModule.wrap(source);
 
-    var fn = runInThisContext(source, {
-      filename: this.filename,
-      lineOffset: 0
-    });
-    fn(this.exports, NativeModule.require, this, this.filename);
+    this.loading = true;
+    try {
+      var fn = runInThisContext(source, {
+        filename: this.filename,
+        lineOffset: 0
+      });
+      fn(this.exports, NativeModule.require, this, this.filename);
 
-    this.loaded = true;
+      this.loaded = true;
+    } finally {
+      this.loading = false;
+    }
   };
 
   NativeModule.prototype.cache = function() {
diff --git a/test/message/console_low_stack_space.js b/test/message/console_low_stack_space.js
new file mode 100644
index 0000000000..1685a35a1f
--- /dev/null
+++ b/test/message/console_low_stack_space.js
@@ -0,0 +1,22 @@
+'use strict';
+// copy console accessor because requiring ../common touches it
+const consoleDescriptor = Object.getOwnPropertyDescriptor(global, 'console');
+delete global.console;
+global.console = {};
+
+require('../common');
+
+function a() {
+  try {
+    return a();
+  } catch (e) {
+    const console = consoleDescriptor.get();
+    if (console.log) {
+      console.log('Hello, World!');
+    } else {
+      throw e;
+    }
+  }
+}
+
+a();
diff --git a/test/message/console_low_stack_space.out b/test/message/console_low_stack_space.out
new file mode 100644
index 0000000000..8ab686eafe
--- /dev/null
+++ b/test/message/console_low_stack_space.out
@@ -0,0 +1 @@
+Hello, World!