diff --git a/lib/locking.py b/lib/locking.py
index a0e418e990be7b951a8e1a1071283b52ae504c39..5d5a01d9c725522677e5bfc4eafb1542498b986f 100644
--- a/lib/locking.py
+++ b/lib/locking.py
@@ -33,6 +33,7 @@ import weakref
 import logging
 import heapq
 import itertools
+import time
 
 from ganeti import errors
 from ganeti import utils
@@ -404,12 +405,13 @@ class SharedLock(object):
     "__pending_by_prio",
     "__pending_shared",
     "__shr",
+    "__time_fn",
     "name",
     ]
 
   __condition_class = _PipeConditionWithMode
 
-  def __init__(self, name, monitor=None):
+  def __init__(self, name, monitor=None, _time_fn=time.time):
     """Construct a new SharedLock.
 
     @param name: the name of the lock
@@ -421,6 +423,9 @@ class SharedLock(object):
 
     self.name = name
 
+    # Used for unittesting
+    self.__time_fn = _time_fn
+
     # Internal lock
     self.__lock = threading.Lock()
 
@@ -682,24 +687,27 @@ class SharedLock(object):
         assert priority not in self.__pending_shared
         self.__pending_shared[priority] = wait_condition
 
+    wait_start = self.__time_fn()
+    acquired = False
+
     try:
       # Wait until we become the topmost acquire in the queue or the timeout
       # expires.
-      # TODO: Decrease timeout with spurious notifications
-      while not (self.__is_on_top(wait_condition) and
-                 self.__can_acquire(shared)):
-        # Wait for notification
-        wait_condition.wait(timeout)
-        self.__check_deleted()
+      while True:
+        if self.__is_on_top(wait_condition) and self.__can_acquire(shared):
+          self.__do_acquire(shared)
+          acquired = True
+          break
 
-        # A lot of code assumes blocking acquires always succeed. Loop
-        # internally for that case.
-        if timeout is not None:
+        # A lot of code assumes blocking acquires always succeed, therefore we
+        # can never return False for a blocking acquire
+        if (timeout is not None and
+            utils.TimeoutExpired(wait_start, timeout, _time_fn=self.__time_fn)):
           break
 
-      if self.__is_on_top(wait_condition) and self.__can_acquire(shared):
-        self.__do_acquire(shared)
-        return True
+        # Wait for notification
+        wait_condition.wait(timeout)
+        self.__check_deleted()
     finally:
       # Remove condition from queue if there are no more waiters
       if not wait_condition.has_waiting():
@@ -709,7 +717,7 @@ class SharedLock(object):
           # (e.g. on lock deletion)
           self.__pending_shared.pop(priority, None)
 
-    return False
+    return acquired
 
   def acquire(self, shared=0, timeout=None, priority=None,
               test_notify=None):
@@ -800,15 +808,30 @@ class SharedLock(object):
         self.__shr.remove(threading.currentThread())
 
       # Notify topmost condition in queue
-      (priority, prioqueue) = self.__find_first_pending_queue()
-      if prioqueue:
-        cond = prioqueue[0]
-        cond.notifyAll()
-        if cond.shared:
-          # Prevent further shared acquires from sneaking in while waiters are
-          # notified
-          self.__pending_shared.pop(priority, None)
+      self.__notify_topmost()
+    finally:
+      self.__lock.release()
+
+  def __notify_topmost(self):
+    """Notifies topmost condition in queue of pending acquires.
+
+    """
+    (priority, prioqueue) = self.__find_first_pending_queue()
+    if prioqueue:
+      cond = prioqueue[0]
+      cond.notifyAll()
+      if cond.shared:
+        # Prevent further shared acquires from sneaking in while waiters are
+        # notified
+        self.__pending_shared.pop(priority, None)
+
+  def _notify_topmost(self):
+    """Exported version of L{__notify_topmost}.
 
+    """
+    self.__lock.acquire()
+    try:
+      return self.__notify_topmost()
     finally:
       self.__lock.release()
 
diff --git a/test/ganeti.locking_unittest.py b/test/ganeti.locking_unittest.py
index c8a6807fc866a0689c4e940b17b167627f1524fa..e48e74faf08edad25ca8e726d1c80af88ce39f97 100755
--- a/test/ganeti.locking_unittest.py
+++ b/test/ganeti.locking_unittest.py
@@ -953,6 +953,84 @@ class TestSharedLock(_ThreadedTestCase):
                                        for i in sorted(perprio.keys())]
                       for (shared, _, threads) in acquires])
 
+  class _FakeTimeForSpuriousNotifications:
+    def __init__(self, now, check_end):
+      self.now = now
+      self.check_end = check_end
+
+      # Deterministic random number generator
+      self.rnd = random.Random(15086)
+
+    def time(self):
+      # Advance time if the random number generator thinks so (this is to test
+      # multiple notifications without advancing the time)
+      if self.rnd.random() < 0.3:
+        self.now += self.rnd.random()
+
+      self.check_end(self.now)
+
+      return self.now
+
+  @_Repeat
+  def testAcquireTimeoutWithSpuriousNotifications(self):
+    ready = threading.Event()
+    locked = threading.Event()
+    req = Queue.Queue(0)
+
+    epoch = 4000.0
+    timeout = 60.0
+
+    def check_end(now):
+      self.assertFalse(locked.isSet())
+
+      # If we waited long enough (in virtual time), tell main thread to release
+      # lock, otherwise tell it to notify once more
+      req.put(now < (epoch + (timeout * 0.8)))
+
+    time_fn = self._FakeTimeForSpuriousNotifications(epoch, check_end).time
+
+    sl = locking.SharedLock("test", _time_fn=time_fn)
+
+    # Acquire in exclusive mode
+    sl.acquire(shared=0)
+
+    def fn():
+      self.assertTrue(sl.acquire(shared=0, timeout=timeout,
+                                 test_notify=ready.set))
+      locked.set()
+      sl.release()
+      self.done.put("success")
+
+    # Start acquire with timeout and wait for it to be ready
+    self._addThread(target=fn)
+    ready.wait()
+
+    # The separate thread is now waiting to acquire the lock, so start sending
+    # spurious notifications.
+
+    # Wait for separate thread to ask for another notification
+    count = 0
+    while req.get():
+      # After sending the notification, the lock will take a short amount of
+      # time to notice and to retrieve the current time
+      sl._notify_topmost()
+      count += 1
+
+    self.assertTrue(count > 100, "Not enough notifications were sent")
+
+    self.assertFalse(locked.isSet())
+
+    # Some notifications have been sent, now actually release the lock
+    sl.release()
+
+    # Wait for lock to be acquired
+    locked.wait()
+
+    self._waitThreads()
+
+    self.assertEqual(self.done.get_nowait(), "success")
+    self.assertRaises(Queue.Empty, self.done.get_nowait)
+
 
 class TestSharedLockInCondition(_ThreadedTestCase):
   """SharedLock as a condition lock tests"""