diff --git a/py/emitinlinethumb.c b/py/emitinlinethumb.c
index c7310d7422..6e341d0b0a 100644
--- a/py/emitinlinethumb.c
+++ b/py/emitinlinethumb.c
@@ -473,7 +473,7 @@ STATIC void emit_inline_thumb_op(emit_inline_asm_t *emit, qstr op, mp_uint_t n_a
                 if (get_arg_addr(emit, op_str, pn_args[1], &pn_base, &pn_offset)) {
                     mp_uint_t rlo_base = get_arg_reg(emit, op_str, pn_base, 7);
                     mp_uint_t i8;
-                    i8 = get_arg_i(emit, op_str, pn_offset, 0xff);
+                    i8 = get_arg_i(emit, op_str, pn_offset, 0x3fc) >> 2;
                     asm_thumb_op32(emit->as,
                         op_code_hi | rlo_base | ((vd & 1) << 6),
                         0x0a00 | ((vd & 0x1e) << 11) | i8);
diff --git a/tests/inlineasm/asmfpldrstr.py b/tests/inlineasm/asmfpldrstr.py
index 75054a6796..8fa9af6369 100644
--- a/tests/inlineasm/asmfpldrstr.py
+++ b/tests/inlineasm/asmfpldrstr.py
@@ -2,9 +2,9 @@ import array
 @micropython.asm_thumb      # test vldr, vstr
 def arrayadd(r0):
     vldr(s0, [r0, 0])
-    vldr(s1, [r0, 1])
+    vldr(s1, [r0, 4])
     vadd(s2, s0, s1)
-    vstr(s2, [r0, 2])
+    vstr(s2, [r0, 8])
 
 z = array.array("f", [2, 4, 10])
 arrayadd(z)