diff --git a/src/irc/core/channels-query.c b/src/irc/core/channels-query.c
index bc5ebf3a..6d54ddd9 100644
--- a/src/irc/core/channels-query.c
+++ b/src/irc/core/channels-query.c
@@ -405,9 +405,9 @@ static void event_channel_mode(IRC_SERVER_REC *server, const char *data,
 		if (chanrec->key != NULL && strchr(mode, 'k') == NULL) {
 			/* we joined the channel with a key,
 			   but it didn't have +k mode.. */
-                        parse_channel_modes(chanrec, NULL, "-k");
+                        parse_channel_modes(chanrec, NULL, "-k", TRUE);
 		}
-		parse_channel_modes(chanrec, nick, mode);
+		parse_channel_modes(chanrec, nick, mode, FALSE);
 		channel_got_query(chanrec, CHANNEL_QUERY_MODE);
 	}
 
diff --git a/src/irc/core/irc-nicklist.c b/src/irc/core/irc-nicklist.c
index b928ada0..2e100dda 100644
--- a/src/irc/core/irc-nicklist.c
+++ b/src/irc/core/irc-nicklist.c
@@ -101,10 +101,10 @@ static void event_names_list(IRC_SERVER_REC *server, const char *data)
            we know better, so parse_channel_modes() won't clear the key */
 	if (*type == '*') {
 		parse_channel_modes(chanrec, NULL,
-				    chanrec->key ? "+kp" : "+p");
+				    chanrec->key ? "+kp" : "+p", FALSE);
 	} else if (*type == '@') {
 		parse_channel_modes(chanrec, NULL,
-				    chanrec->key ? "+ks" : "+s");
+				    chanrec->key ? "+ks" : "+s", FALSE);
 	}
 
 	while (*names != '\0') {
diff --git a/src/irc/core/modes.c b/src/irc/core/modes.c
index 946b533b..0fce2e9b 100644
--- a/src/irc/core/modes.c
+++ b/src/irc/core/modes.c
@@ -198,7 +198,7 @@ int channel_mode_is_set(IRC_CHANNEL_REC *channel, char mode)
 
 /* Parse channel mode string */
 void parse_channel_modes(IRC_CHANNEL_REC *channel, const char *setby,
-			 const char *mode)
+			 const char *mode, int update_key)
 {
         GString *newmode;
 	char *dup, *modestr, *arg, *curmode, type;
@@ -256,7 +256,7 @@ void parse_channel_modes(IRC_CHANNEL_REC *channel, const char *setby,
 			}
 			mode_set_arg(newmode, type, 'k', arg);
 
-			if (arg != channel->key) {
+			if (arg != channel->key && update_key) {
 				g_free_and_null(channel->key);
 				if (type == '+')
 					channel->key = g_strdup(arg);
@@ -382,7 +382,7 @@ static void event_mode(IRC_SERVER_REC *server, const char *data,
 		/* channel mode change */
 		chanrec = irc_channel_find(server, channel);
 		if (chanrec != NULL)
-			parse_channel_modes(chanrec, nick, mode);
+			parse_channel_modes(chanrec, nick, mode, TRUE);
 	}
 
 	g_free(params);
diff --git a/src/irc/core/modes.h b/src/irc/core/modes.h
index d2e10cd9..485b176b 100644
--- a/src/irc/core/modes.h
+++ b/src/irc/core/modes.h
@@ -29,7 +29,7 @@ char *modes_join(const char *old, const char *mode, int channel);
 int channel_mode_is_set(IRC_CHANNEL_REC *channel, char mode);
 
 void parse_channel_modes(IRC_CHANNEL_REC *channel, const char *setby,
-			 const char *modestr);
+			 const char *modestr, int update_key);
 
 void channel_set_singlemode(IRC_CHANNEL_REC *channel, const char *nicks,
 			    const char *mode);