diff --git a/src/emulator.cpp b/src/emulator.cpp
index 8b33f811..ae3cb17d 100644
--- a/src/emulator.cpp
+++ b/src/emulator.cpp
@@ -308,9 +308,13 @@ void Emulator::LoadSystemModules(const std::filesystem::path& file, std::string
             LOG_INFO(Loader, "No HLE available for {} module", module_name);
         }
     }
-    for (const auto& entry : std::filesystem::directory_iterator(sys_module_path / game_serial)) {
-        LOG_INFO(Loader, "Loading {} from game serial file {}", entry.path().string(), game_serial);
-        linker->LoadModule(entry.path());
+    if (std::filesystem::exists(sys_module_path / game_serial)) {
+        for (const auto& entry :
+             std::filesystem::directory_iterator(sys_module_path / game_serial)) {
+            LOG_INFO(Loader, "Loading {} from game serial file {}", entry.path().string(),
+                     game_serial);
+            linker->LoadModule(entry.path());
+        }
     }
 }