diff --git a/rpcs3/Emu/Cell/PPUThread.cpp b/rpcs3/Emu/Cell/PPUThread.cpp
index 8c10b59928..a9d61cca58 100644
--- a/rpcs3/Emu/Cell/PPUThread.cpp
+++ b/rpcs3/Emu/Cell/PPUThread.cpp
@@ -5055,12 +5055,19 @@ bool ppu_initialize(const ppu_module& info, bool check_only, u64 file_size)
 	// Try to patch all single and unregistered BLRs with the same function (TODO: Maybe generalize it into PIC code detection and patching)
 	ppu_intrp_func_t BLR_func = nullptr;
 
-	const bool is_first = jit && !jit_mod.init;
-
 	const bool showing_only_apply_stage = !g_progr.load() && !g_progr_ptotal && !g_progr_ftotal && g_progr_ptotal.compare_and_swap_test(0, 1);
 
 	progr = "Applying PPU Code...";
 
+	if (!jit)
+	{
+		// No functions - nothing to do
+		ensure(info.funcs.empty());
+		return compiled_new;
+	}
+
+	const bool is_first = !jit_mod.init;
+
 	if (is_first)
 	{
 		jit->fin();