diff --git a/src/system/kernel/vm/vm_page.cpp b/src/system/kernel/vm/vm_page.cpp
index 56b94ec6b2..559aace6e1 100644
--- a/src/system/kernel/vm/vm_page.cpp
+++ b/src/system/kernel/vm/vm_page.cpp
@@ -4053,13 +4053,9 @@ vm_page_num_unused_pages(void)
 void
 vm_page_get_stats(system_info *info)
 {
-	// Get free pages count -- not really exact, since we don't know how many
-	// of the reserved pages have already been allocated, but good citizens
-	// unreserve chunk-wise as they are allocating the pages, if they have
-	// reserved a larger quantity.
-	int32 free = sUnreservedFreePages;
-	if (free < 0)
-		free = 0;
+	// TODO: there's no locking protecting any of the queues or counters here,
+	// so we run the risk of getting bogus values when evaluating them at
+	// throughout this function...
 
 	// The pages used for the block cache buffers. Those should not be counted
 	// as used but as cached pages.
@@ -4067,11 +4063,25 @@ vm_page_get_stats(system_info *info)
 	// can't really be freed in a low memory situation.
 	page_num_t blockCachePages = block_cache_used_memory() / B_PAGE_SIZE;
 
-	info->max_pages = sNumPages - sNonExistingPages;
-	info->used_pages = gMappedPagesCount + sInactivePageQueue.Count()
-		- blockCachePages;
-	info->cached_pages = info->max_pages >= free + info->used_pages
-		? info->max_pages - free - info->used_pages : 0;
+	// Non-temporary modified pages are special as they represent pages that
+	// can be written back, so they could be freed if necessary, for us
+	// basically making them into cached pages with a higher overhead. The
+	// modified queue count is therefore split into temporary and non-temporary
+	// counts that are then added to the corresponding number.
+	page_num_t modifiedNonTemporaryPages
+		= (sModifiedPageQueue.Count() - sModifiedTemporaryPages);
+
+	info->max_pages = vm_page_num_pages();
+	info->cached_pages = sCachedPageQueue.Count() + modifiedNonTemporaryPages
+		+ blockCachePages;
+
+	// max_pages is composed of:
+	//	active + inactive + unused + wired + modified + cached + free + clear
+	// So taking out the cached (including modified non-temporary), free and
+	// clear ones leaves us with all used pages.
+	info->used_pages = info->max_pages - info->cached_pages
+		- sFreePageQueue.Count() - sClearPageQueue.Count();
+
 	info->page_faults = vm_num_page_faults();
 	info->ignored_pages = sIgnoredPages;