diff --git a/mm/swap_state.c b/mm/swap_state.c
index b3d40dcf3624..f24ab0dff554 100644
--- a/mm/swap_state.c
+++ b/mm/swap_state.c
@@ -336,8 +336,24 @@ struct page *read_swap_cache_async(swp_entry_t entry, gfp_t gfp_mask,
 		 * Swap entry may have been freed since our caller observed it.
 		 */
 		err = swapcache_prepare(entry);
-		if (err == -EEXIST) {	/* seems racy */
+		if (err == -EEXIST) {
 			radix_tree_preload_end();
+			/*
+			 * We might race against get_swap_page() and stumble
+			 * across a SWAP_HAS_CACHE swap_map entry whose page
+			 * has not been brought into the swapcache yet, while
+			 * the other end is scheduled away waiting on discard
+			 * I/O completion at scan_swap_map().
+			 *
+			 * In order to avoid turning this transitory state
+			 * into a permanent loop around this -EEXIST case
+			 * if !CONFIG_PREEMPT and the I/O completion happens
+			 * to be waiting on the CPU waitqueue where we are now
+			 * busy looping, we just conditionally invoke the
+			 * scheduler here, if there are some more important
+			 * tasks to run.
+			 */
+			cond_resched();
 			continue;
 		}
 		if (err) {		/* swp entry is obsolete ? */