A processor having a multistage pipeline includes a TLB and a TLB controller. In response to a TLB miss signal, the TLB controller initiates a TLB reload, requesting address translation information from either a memory or a higher-level TLB, and placing that information into the TLB. The processor flushes the instruction having the missing virtual address, and refetches the instruction, resulting in re-insertion of the instruction at an initial stage of the pipeline above the TLB access point. The initiation of the TLB reload, and the flush/refetch of the instruction, are performed substantially in parallel, and without immediately stalling the pipeline. The refetched instruction is held at a point in the pipeline above the TLB access point until the TLB reload is complete, so that the refetched instruction generates a "hit" in the TLB upon its next access.