diff --git a/src/arch/i386/image/bzimage.c b/src/arch/i386/image/bzimage.c
index 0618dbf4e..4865c394c 100644
--- a/src/arch/i386/image/bzimage.c
+++ b/src/arch/i386/image/bzimage.c
@@ -346,13 +346,24 @@ static void bzimage_parse_cpio_cmdline ( struct image *image,
 	}
 }
 
+/**
+ * Align initrd length
+ *
+ * @v len		Length
+ * @ret len		Length rounded up to INITRD_ALIGN
+ */
+static inline size_t bzimage_align ( size_t len ) {
+
+	return ( ( len + INITRD_ALIGN - 1 ) & ~( INITRD_ALIGN - 1 ) );
+}
+
 /**
  * Load initrd
  *
  * @v image		bzImage image
  * @v initrd		initrd image
  * @v address		Address at which to load, or UNULL
- * @ret len		Length of loaded image, rounded up to INITRD_ALIGN
+ * @ret len		Length of loaded image, excluding zero-padding
  */
 static size_t bzimage_load_initrd ( struct image *image,
 				    struct image *initrd,
@@ -408,11 +419,10 @@ static size_t bzimage_load_initrd ( struct image *image,
 	}
 	offset += initrd->len;
 
-	/* Round up to multiple of INITRD_ALIGN and zero-pad */
+	/* Zero-pad to next INITRD_ALIGN boundary */
 	pad_len = ( ( -offset ) & ( INITRD_ALIGN - 1 ) );
 	if ( address )
 		memset_user ( address, offset, 0, pad_len );
-	offset += pad_len;
 
 	return offset;
 }
@@ -440,6 +450,7 @@ static int bzimage_check_initrds ( struct image *image,
 
 		/* Calculate length */
 		len += bzimage_load_initrd ( image, initrd, UNULL );
+		len = bzimage_align ( len );
 
 		DBGC ( image, "bzImage %p initrd %p from [%#08lx,%#08lx)%s%s\n",
 		       image, initrd, user_to_phys ( initrd->data, 0 ),
@@ -487,6 +498,7 @@ static void bzimage_load_initrds ( struct image *image,
 	struct image *other;
 	userptr_t top;
 	userptr_t dest;
+	size_t offset;
 	size_t len;
 
 	/* Reshuffle initrds into desired order */
@@ -505,9 +517,7 @@ static void bzimage_load_initrds ( struct image *image,
 		return;
 
 	/* Find highest usable address */
-	top = userptr_add ( highest->data,
-			    ( ( highest->len + INITRD_ALIGN - 1 ) &
-			      ~( INITRD_ALIGN - 1 ) ) );
+	top = userptr_add ( highest->data, bzimage_align ( highest->len ) );
 	if ( user_to_phys ( top, 0 ) > bzimg->mem_limit )
 		top = phys_to_user ( bzimg->mem_limit );
 	DBGC ( image, "bzImage %p loading initrds from %#08lx downwards\n",
@@ -519,23 +529,27 @@ static void bzimage_load_initrds ( struct image *image,
 		/* Calculate cumulative length of following
 		 * initrds (including padding).
 		 */
-		len = 0;
+		offset = 0;
 		for_each_image ( other ) {
 			if ( other == initrd )
-				len = 0;
-			len += bzimage_load_initrd ( image, other, UNULL );
+				offset = 0;
+			offset += bzimage_load_initrd ( image, other, UNULL );
+			offset = bzimage_align ( offset );
 		}
 
 		/* Load initrd at this address */
-		dest = userptr_add ( top, -len );
-		bzimage_load_initrd ( image, initrd, dest );
+		dest = userptr_add ( top, -offset );
+		len = bzimage_load_initrd ( image, initrd, dest );
 
 		/* Record initrd location */
-		if ( ! bzimg->ramdisk_image ) {
+		if ( ! bzimg->ramdisk_image )
 			bzimg->ramdisk_image = user_to_phys ( dest, 0 );
-			bzimg->ramdisk_size = len;
-		}
+		bzimg->ramdisk_size = ( user_to_phys ( dest, len ) -
+					bzimg->ramdisk_image );
 	}
+	DBGC ( image, "bzImage %p initrds at [%#08lx,%#08lx)\n",
+	       image, bzimg->ramdisk_image,
+	       ( bzimg->ramdisk_image + bzimg->ramdisk_size ) );
 }
 
 /**