diff --git a/arch/arc/lib/relocate.c b/arch/arc/lib/relocate.c
index a3b7428..4ffba84 100644
--- a/arch/arc/lib/relocate.c
+++ b/arch/arc/lib/relocate.c
@@ -8,7 +8,9 @@
 #include <asm-generic/sections.h>
 
 extern ulong __image_copy_start;
+extern ulong __ivt_start;
 extern ulong __ivt_end;
+extern ulong __text_end;
 
 DECLARE_GLOBAL_DATA_PTR;
 
@@ -48,7 +50,7 @@ int do_elf_reloc_fixups(void)
 	debug("Section .rela.dyn is located at %08x-%08x\n",
 	      (unsigned int)re_src, (unsigned int)re_end);
 
-	Elf32_Addr *offset_ptr_rom, *last_offset = NULL;
+	Elf32_Addr *offset_ptr_rom;
 	Elf32_Addr *offset_ptr_ram;
 
 	do {
@@ -57,15 +59,28 @@ int do_elf_reloc_fixups(void)
 
 		/* Check that the location of the relocation is in .text */
 		if (offset_ptr_rom >= (Elf32_Addr *)&__image_copy_start &&
-		    offset_ptr_rom > last_offset) {
-			unsigned int val;
+		    offset_ptr_rom < (Elf32_Addr *)&__image_copy_end) {
+			unsigned int val, do_swap = 0;
 			/* Switch to the in-RAM version */
 			offset_ptr_ram = (Elf32_Addr *)((ulong)offset_ptr_rom +
 							gd->reloc_off);
 
-			debug("Patching value @ %08x (relocated to %08x)\n",
+#ifdef __LITTLE_ENDIAN__
+			/* If location in ".text" section swap value */
+			if (((u32)offset_ptr_rom >= (u32)&__text_start &&
+			     (u32)offset_ptr_rom <= (u32)&__text_end)
+#if defined(__ARC700__) || defined(__ARC600__)
+			    || ((u32)offset_ptr_rom >= (u32)&__ivt_start &&
+				(u32)offset_ptr_rom <= (u32)&__ivt_end)
+#endif
+			   )
+				do_swap = 1;
+#endif
+
+			debug("Patching value @ %08x (relocated to %08x)%s\n",
 			      (unsigned int)offset_ptr_rom,
-			      (unsigned int)offset_ptr_ram);
+			      (unsigned int)offset_ptr_ram,
+			      do_swap ? ", middle-endian encoded" : "");
 
 			/*
 			 * Use "memcpy" because target location might be
@@ -75,28 +90,45 @@ int do_elf_reloc_fixups(void)
 			 */
 			memcpy(&val, offset_ptr_ram, sizeof(int));
 
-#ifdef __LITTLE_ENDIAN__
-			/* If location in ".text" section swap value */
-			if ((unsigned int)offset_ptr_rom <
-			    (unsigned int)&__ivt_end)
+			if (do_swap)
 				val = (val << 16) | (val >> 16);
-#endif
 
 			/* Check that the target points into executable */
-			if (val >= (unsigned int)&__image_copy_start && val <=
-			    (unsigned int)&__image_copy_end) {
-				val += gd->reloc_off;
-#ifdef __LITTLE_ENDIAN__
-				/* If location in ".text" section swap value */
-				if ((unsigned int)offset_ptr_rom <
-				    (unsigned int)&__ivt_end)
-					val = (val << 16) | (val >> 16);
-#endif
-				memcpy(offset_ptr_ram, &val, sizeof(int));
+			if (val < (unsigned int)&__image_copy_start ||
+			    val > (unsigned int)&__image_copy_end) {
+				/* TODO: Use panic() instead of debug()
+				 *
+				 * For some reason GCC might generate
+				 * fake relocation even for LD/SC of constant
+				 * inderectly. See an example below:
+				 * ----------------------->8--------------------
+				 * static int setup_mon_len(void)
+				 * {
+				 *         gd->mon_len = (ulong)&__bss_end - CONFIG_SYS_MONITOR_BASE;
+				 *         return 0;
+				 * }
+				 * ----------------------->8--------------------
+				 *
+				 * And that's what we get in the binary:
+				 * ----------------------->8--------------------
+				 * 10005cb4 <setup_mon_len>:
+				 * 10005cb4:       193c 3f80 0003 2f80     st      0x32f80,[r25,60]
+				 *                         10005cb8: R_ARC_RELATIVE        *ABS*-0x10000000
+				 * 10005cbc:       7fe0                    j_s.d   [blink]
+				 * 10005cbe:       700c                    mov_s   r0,0
+				 * ----------------------->8--------------------
+				 */
+				debug("Relocation target %08x points outside of image\n",
+				      val);
 			}
-		}
-		last_offset = offset_ptr_rom;
 
+			val += gd->reloc_off;
+
+			if (do_swap)
+				val = (val << 16) | (val >> 16);
+
+			memcpy(offset_ptr_ram, &val, sizeof(int));
+		}
 	} while (++re_src < re_end);
 
 	return 0;