diff --git a/src/python/m5/simulate.py b/src/python/m5/simulate.py
--- a/src/python/m5/simulate.py
+++ b/src/python/m5/simulate.py
@@ -170,7 +170,8 @@
     # If we've got some objects that can't drain immediately, then simulate
     if unready_objs > 0:
         drain_event.setCount(unready_objs)
-        simulate()
+        exit_event = simulate()
+        internal.event.cleanupExitEvent(exit_event)
     else:
         all_drained = True
     internal.event.cleanupCountedDrain(drain_event)
@@ -230,4 +231,7 @@
     for old_cpu, new_cpu in cpuList:
         new_cpu.takeOverFrom(old_cpu)
 
+def cleanupExitEvent(exit_event):
+    internal.event.cleanupExitEvent(exit_event)
+
 from internal.core import disableAllListeners
diff --git a/src/python/swig/pyevent.hh b/src/python/swig/pyevent.hh
--- a/src/python/swig/pyevent.hh
+++ b/src/python/swig/pyevent.hh
@@ -51,5 +51,7 @@
 
 CountedDrainEvent *createCountedDrain();
 void cleanupCountedDrain(Event *counted_drain);
+void cleanupExitEvent(Event *counted_drain);
+
 
 #endif // __PYTHON_SWIG_PYEVENT_HH__
diff --git a/src/python/swig/pyevent.cc b/src/python/swig/pyevent.cc
--- a/src/python/swig/pyevent.cc
+++ b/src/python/swig/pyevent.cc
@@ -84,3 +84,15 @@
     assert(event->getCount() == 0);
     delete event;
 }
+
+void
+cleanupExitEvent( Event * exit_event)
+{
+    SimLoopExitEvent *event =
+        dynamic_cast<SimLoopExitEvent*>(exit_event);
+    if (event == NULL){
+        fatal("Called cleanupExitEvent() on an event that was not "
+                "a SimLoopExitEvent.");
+    }
+    delete event;
+}
diff --git a/src/sim/simulate.cc b/src/sim/simulate.cc
--- a/src/sim/simulate.cc
+++ b/src/sim/simulate.cc
@@ -85,6 +85,8 @@
                 assert(limit_event->scheduled());
                 limit_event->squash();
                 hack_once("be nice to actually delete the event here");
+                mainEventQueue.deschedule(limit_event);
+                delete limit_event;
             }
 
             return se_event;