diff --git a/llvm/lib/Analysis/BasicAliasAnalysis.cpp b/llvm/lib/Analysis/BasicAliasAnalysis.cpp
index 1dcdad01f4c80..08bb11bb07ac5 100644
--- a/llvm/lib/Analysis/BasicAliasAnalysis.cpp
+++ b/llvm/lib/Analysis/BasicAliasAnalysis.cpp
@@ -1447,9 +1447,10 @@ AliasResult BasicAAResult::aliasPHI(const PHINode *PN, LocationSize PNSize,
     return AliasResult::NoAlias;
   // If the values are PHIs in the same block, we can do a more precise
   // as well as efficient check: just check for aliases between the values
-  // on corresponding edges.
+  // on corresponding edges. Don't do this if we are analyzing across
+  // iterations, as we may pick a different phi entry in different iterations.
   if (const PHINode *PN2 = dyn_cast<PHINode>(V2))
-    if (PN2->getParent() == PN->getParent()) {
+    if (PN2->getParent() == PN->getParent() && !AAQI.MayBeCrossIteration) {
       std::optional<AliasResult> Alias;
       for (unsigned i = 0, e = PN->getNumIncomingValues(); i != e; ++i) {
         AliasResult ThisAlias = AAQI.AAR.alias(
diff --git a/llvm/test/Analysis/LoopAccessAnalysis/select-dependence.ll b/llvm/test/Analysis/LoopAccessAnalysis/select-dependence.ll
index 7d8a25f022e7d..5b01efd821c47 100644
--- a/llvm/test/Analysis/LoopAccessAnalysis/select-dependence.ll
+++ b/llvm/test/Analysis/LoopAccessAnalysis/select-dependence.ll
@@ -44,8 +44,13 @@ exit:
 define void @test_phi(ptr noalias %x, ptr noalias %y, ptr noalias %z) {
 ; CHECK-LABEL: 'test_phi'
 ; CHECK-NEXT:    loop:
-; CHECK-NEXT:      Memory dependences are safe
+; CHECK-NEXT:      Report: unsafe dependent memory operations in loop. Use #pragma clang loop distribute(enable) to allow loop distribution to attempt to isolate the offending operations into a separate loop
+; CHECK-NEXT:  Unsafe indirect dependence.
 ; CHECK-NEXT:      Dependences:
+; CHECK-NEXT:        IndirectUnsafe:
+; CHECK-NEXT:            %load = load double, ptr %gep.sel, align 8 ->
+; CHECK-NEXT:            store double %load, ptr %gep.sel2, align 8
+; CHECK-EMPTY:
 ; CHECK-NEXT:      Run-time memory checks:
 ; CHECK-NEXT:      Grouped accesses:
 ; CHECK-EMPTY: