diff --git a/Makefile b/Makefile
index 9768140f8d5a..ee3ed9dfca2c 100644
--- a/Makefile
+++ b/Makefile
@@ -1649,17 +1649,9 @@ else # KBUILD_EXTMOD
 # We are always building modules
 KBUILD_MODULES := 1
 
-PHONY += $(objtree)/Module.symvers
-$(objtree)/Module.symvers:
-	@test -e $(objtree)/Module.symvers || ( \
-	echo; \
-	echo "  WARNING: Symbol version dump $(objtree)/Module.symvers"; \
-	echo "           is missing; modules will have no dependencies and modversions."; \
-	echo )
-
 build-dirs := $(KBUILD_EXTMOD)
 PHONY += modules
-modules: descend $(objtree)/Module.symvers
+modules: descend
 	$(Q)$(MAKE) -f $(srctree)/scripts/Makefile.modpost
 
 PHONY += modules_install
diff --git a/scripts/Makefile.modpost b/scripts/Makefile.modpost
index f29a02196b72..e47f87557f09 100644
--- a/scripts/Makefile.modpost
+++ b/scripts/Makefile.modpost
@@ -98,8 +98,11 @@ ifneq ($(findstring i,$(filter-out --%,$(MAKEFLAGS))),)
 MODPOST += -n
 endif
 
+# Clear VPATH to not search for *.symvers in $(srctree). Check only $(objtree).
+VPATH :=
 $(input-symdump):
-	@:
+	@echo >&2 'WARNING: Symbol version dump "$@" is missing.'
+	@echo >&2 '         Modules may not have dependencies or modversions.'
 
 # Read out modules.order to pass in modpost.
 # Otherwise, allmodconfig would fail with "Argument list too long".