diff --git a/Makefile b/Makefile
index f91f3b0a11..7dc02042be 100644
--- a/Makefile
+++ b/Makefile
@@ -172,6 +172,7 @@ version.lo: $(SRC_PATH)/version.rc config-host.h
 version-obj-$(CONFIG_WIN32) += version.o
 version-lobj-$(CONFIG_WIN32) += version.lo
 
+Makefile: $(version-obj-y) $(version-lobj-y)
 
 ######################################################################
 # Build libraries
diff --git a/rules.mak b/rules.mak
index b21383beba..44997458da 100644
--- a/rules.mak
+++ b/rules.mak
@@ -22,15 +22,11 @@ QEMU_INCLUDES += -I$(<D) -I$(@D)
 %.o: %.rc
 	$(call quiet-command,$(WINDRES) -I. -o $@ $<,"  RC    $(TARGET_DIR)$@")
 
-Makefile: $(version-obj-y)
-
 ifeq ($(LIBTOOL),)
-LIBTOOL = /bin/false
 LINK = $(call quiet-command,$(CC) $(QEMU_CFLAGS) $(CFLAGS) $(LDFLAGS) -o $@ \
        $(sort $(filter %.o, $1)) $(filter-out %.o, $1) $(version-obj-y) \
        $(LIBS),"  LINK  $(TARGET_DIR)$@")
 else
-Makefile: $(version-lobj-y)
 LIBTOOL += $(if $(V),,--quiet)
 %.lo: %.c
 	$(call quiet-command,$(LIBTOOL) --mode=compile --tag=CC $(CC) $(QEMU_INCLUDES) $(QEMU_CFLAGS) $(QEMU_DGFLAGS) $(CFLAGS) -c -o $@ $<,"  lt CC $@")
@@ -74,7 +70,7 @@ quiet-command = $(if $(V),$1,$(if $(2),@echo $2 && $1, @$1))
 cc-option = $(if $(shell $(CC) $1 $2 -S -o /dev/null -xc /dev/null \
               >/dev/null 2>&1 && echo OK), $2, $3)
 
-VPATH_SUFFIXES = %.c %.h %.S %.m %.mak %.texi %.sh
+VPATH_SUFFIXES = %.c %.h %.S %.m %.mak %.texi %.sh %.rc
 set-vpath = $(if $1,$(foreach PATTERN,$(VPATH_SUFFIXES),$(eval vpath $(PATTERN) $1)))
 
 # find-in-path