diff --git a/rpm-4.7.0-beta1-srcrpm-macros.patch b/rpm-4.7.0-beta1-srcrpm-macros.patch
new file mode 100644
index 0000000..9b66e5e
--- /dev/null
+++ b/rpm-4.7.0-beta1-srcrpm-macros.patch
@@ -0,0 +1,32 @@
+commit 7a813e149fe40bbb9beee7dbf9898ab0c1906da2
+Author: Panu Matilainen <pmatilai@redhat.com>
+Date:   Sun Mar 8 11:33:22 2009 +0200
+
+    Load macros before creating directories (rhbz#489104)
+    - %_sourcedir and friends can have things like %{name}, load macros
+      before trying to create any directories when installing src.rpms
+    (cherry picked from commit ac7c3412278a03da6633758bca999827d4b59038)
+
+diff --git a/lib/psm.c b/lib/psm.c
+index 3b2fd7c..112d344 100644
+--- a/lib/psm.c
++++ b/lib/psm.c
+@@ -275,6 +275,9 @@ rpmRC rpmInstallSourcePackage(rpmts ts, FD_t fd,
+     if (rootdir && strcmp(rootdir, "/") == 0)
+ 	rootdir = NULL;
+ 
++    /* Macros need to be added before trying to create directories */
++    rpmInstallLoadMacros(h);
++
+     if (specix >= 0) {
+ 	const char *bn;
+ 
+@@ -301,8 +304,6 @@ rpmRC rpmInstallSourcePackage(rpmts ts, FD_t fd,
+ 	goto exit;
+     }
+ 
+-    rpmInstallLoadMacros(h);
+-
+     te = rpmtsElement(ts, 0);
+     if (te == NULL) {	/* XXX can't happen */
+ 	goto exit;
diff --git a/rpm.spec b/rpm.spec
index dd2df48..ad3074e 100644
--- a/rpm.spec
+++ b/rpm.spec
@@ -25,7 +25,7 @@
 Summary: The RPM package management system
 Name: rpm
 Version: %{rpmver}
-Release: 0.%{snapver}.1%{?dist}
+Release: 0.%{snapver}.2%{?dist}
 Group: System Environment/Base
 Url: http://www.rpm.org/
 Source0: http://rpm.org/releases/testing/%{name}-%{srcver}.tar.bz2
@@ -43,6 +43,7 @@ Patch2: rpm-4.5.90-gstreamer-provides.patch
 Patch3: rpm-4.6.0-fedora-specspo.patch
 
 # Patches already in upstream
+Patch200: rpm-4.7.0-beta1-srcrpm-macros.patch
 
 # These are not yet upstream
 Patch300: rpm-4.7.0-extra-provides.patch
@@ -183,6 +184,8 @@ that will manipulate RPM packages and databases.
 %patch2 -p1 -b .gstreamer-prov
 %patch3 -p1 -b .fedora-specspo
 
+%patch200 -p1 -b .srcrpm-macros
+
 %patch300 -p1 -b .extra-prov
 
 %if %{with int_bdb}
@@ -388,6 +391,9 @@ exit 0
 %doc doc/librpm/html/*
 
 %changelog
+* Sun Mar 08 2009 Panu Matilainen <pmatilai@redhat.com> - 4.7.0-0.beta1.2
+- load macros before creating directories on src.rpm install (#489104)
+
 * Fri Mar 06 2009 Panu Matilainen <pmatilai@redhat.com> - 4.7.0-0.beta1.1
 - update to 4.7.0-beta1 (http://rpm.org/wiki/Releases/4.7.0)