diff --git a/src/compiler.cc b/src/compiler.cc
index 26daec77a3..328b2780fc 100644
--- a/src/compiler.cc
+++ b/src/compiler.cc
@@ -867,6 +867,9 @@ MaybeHandle<Code> Compiler::GetLazyCode(Handle<JSFunction> function) {
       DCHECK(function->shared()->is_compiled());
       return info.code();
     }
+    // We have failed compilation. If there was an exception clear it so that
+    // we can compile unoptimized code.
+    if (isolate->has_pending_exception()) isolate->clear_pending_exception();
   }
 
   if (function->shared()->is_compiled()) {
diff --git a/test/mjsunit/regress/regress-458987.js b/test/mjsunit/regress/regress-458987.js
new file mode 100644
index 0000000000..f7a7edcef4
--- /dev/null
+++ b/test/mjsunit/regress/regress-458987.js
@@ -0,0 +1,16 @@
+// Copyright 2014 the V8 project authors. All rights reserved.
+// Use of this source code is governed by a BSD-style license that can be
+// found in the LICENSE file.
+
+(function () {
+  "use asm";
+
+  function g() {}
+
+  runNearStackLimit(g);
+})();
+
+function runNearStackLimit(f) {
+  function g() { try { g(); } catch(e) { f(); } };
+  g();
+}