diff --git a/src/core/hle/kernel/address_arbiter.cpp b/src/core/hle/kernel/address_arbiter.cpp
index 5074e352f..23a9bb8d1 100644
--- a/src/core/hle/kernel/address_arbiter.cpp
+++ b/src/core/hle/kernel/address_arbiter.cpp
@@ -16,8 +16,6 @@
 ////////////////////////////////////////////////////////////////////////////////////////////////////
 // Kernel namespace
 
-SERIALIZE_EXPORT_IMPL(Kernel::AddressArbiter)
-
 namespace Kernel {
 
 void AddressArbiter::WaitThread(std::shared_ptr<Thread> thread, VAddr wait_address) {
@@ -69,7 +67,8 @@ std::shared_ptr<Thread> AddressArbiter::ResumeHighestPriorityThread(VAddr addres
     return thread;
 }
 
-AddressArbiter::AddressArbiter(KernelSystem& kernel) : Object(kernel), kernel(kernel) {}
+AddressArbiter::AddressArbiter(KernelSystem& kernel)
+    : Object(kernel), kernel(kernel), timeout_callback(std::make_shared<Callback>(*this)) {}
 AddressArbiter::~AddressArbiter() {}
 
 std::shared_ptr<AddressArbiter> KernelSystem::CreateAddressArbiter(std::string name) {
@@ -80,6 +79,24 @@ std::shared_ptr<AddressArbiter> KernelSystem::CreateAddressArbiter(std::string n
     return address_arbiter;
 }
 
+class AddressArbiter::Callback : public WakeupCallback {
+public:
+    explicit Callback(AddressArbiter& _parent) : parent(_parent) {}
+    AddressArbiter& parent;
+
+    void WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> thread,
+                std::shared_ptr<WaitObject> object) override {
+        parent.WakeUp(reason, std::move(thread), std::move(object));
+    }
+
+private:
+    template <class Archive>
+    void serialize(Archive& ar, const unsigned int) {
+        ar& boost::serialization::base_object<WakeupCallback>(*this);
+    }
+    friend class boost::serialization::access;
+};
+
 void AddressArbiter::WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> thread,
                             std::shared_ptr<WaitObject> object) {
     ASSERT(reason == ThreadWakeupReason::Timeout);
@@ -90,9 +107,6 @@ void AddressArbiter::WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> t
 
 ResultCode AddressArbiter::ArbitrateAddress(std::shared_ptr<Thread> thread, ArbitrationType type,
                                             VAddr address, s32 value, u64 nanoseconds) {
-
-    auto timeout_callback = std::dynamic_pointer_cast<WakeupCallback>(shared_from_this());
-
     switch (type) {
 
     // Signal thread(s) waiting for arbitrate address...
@@ -157,3 +171,23 @@ ResultCode AddressArbiter::ArbitrateAddress(std::shared_ptr<Thread> thread, Arbi
 }
 
 } // namespace Kernel
+
+namespace boost::serialization {
+
+template <class Archive>
+void save_construct_data(Archive& ar, const Kernel::AddressArbiter::Callback* t,
+                         const unsigned int) {
+    ar << Kernel::SharedFrom(&t->parent);
+}
+
+template <class Archive>
+void load_construct_data(Archive& ar, Kernel::AddressArbiter::Callback* t, const unsigned int) {
+    std::shared_ptr<Kernel::AddressArbiter> parent;
+    ar >> parent;
+    ::new (t) Kernel::AddressArbiter::Callback(*parent);
+}
+
+} // namespace boost::serialization
+
+SERIALIZE_EXPORT_IMPL(Kernel::AddressArbiter)
+SERIALIZE_EXPORT_IMPL(Kernel::AddressArbiter::Callback)
diff --git a/src/core/hle/kernel/address_arbiter.h b/src/core/hle/kernel/address_arbiter.h
index c7a263d9e..4d8b12241 100644
--- a/src/core/hle/kernel/address_arbiter.h
+++ b/src/core/hle/kernel/address_arbiter.h
@@ -59,8 +59,7 @@ public:
     ResultCode ArbitrateAddress(std::shared_ptr<Thread> thread, ArbitrationType type, VAddr address,
                                 s32 value, u64 nanoseconds);
 
-    void WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> thread,
-                std::shared_ptr<WaitObject> object);
+    class Callback;
 
 private:
     KernelSystem& kernel;
@@ -78,20 +77,40 @@ private:
     /// Threads waiting for the address arbiter to be signaled.
     std::vector<std::shared_ptr<Thread>> waiting_threads;
 
+    std::shared_ptr<Callback> timeout_callback;
+
+    void WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> thread,
+                std::shared_ptr<WaitObject> object);
+
+    class DummyCallback : public WakeupCallback {
+    public:
+        void WakeUp(ThreadWakeupReason reason, std::shared_ptr<Thread> thread,
+                    std::shared_ptr<WaitObject> object) override {}
+    };
+
     friend class boost::serialization::access;
     template <class Archive>
     void serialize(Archive& ar, const unsigned int file_version) {
         ar& boost::serialization::base_object<Object>(*this);
-        if (file_version > 0) {
-            ar& boost::serialization::base_object<WakeupCallback>(*this);
+        if (file_version == 1) {
+            // This rigmarole is needed because in past versions, AddressArbiter inherited
+            // WakeupCallback But it turns out this breaks shared_from_this, so we split it out.
+            // Using a dummy class to deserialize a base_object allows compatibility to be
+            // maintained.
+            DummyCallback x;
+            ar& boost::serialization::base_object<WakeupCallback>(x);
         }
         ar& name;
         ar& waiting_threads;
+        if (file_version > 1) {
+            ar& timeout_callback;
+        }
     }
 };
 
 } // namespace Kernel
 
 BOOST_CLASS_EXPORT_KEY(Kernel::AddressArbiter)
-BOOST_CLASS_VERSION(Kernel::AddressArbiter, 1)
+BOOST_CLASS_EXPORT_KEY(Kernel::AddressArbiter::Callback)
+BOOST_CLASS_VERSION(Kernel::AddressArbiter, 2)
 CONSTRUCT_KERNEL_OBJECT(Kernel::AddressArbiter)