--- x/kernel/time/posix-timers.c
+++ y/kernel/time/posix-timers.c
@@ -1042,12 +1042,12 @@ static void itimer_delete(struct k_itime
 {
 	unsigned long flags;
 
-retry_delete:
 	/*
 	 * irqsave is required to make timer_wait_running() work.
 	 */
 	spin_lock_irqsave(&timer->it_lock, flags);
 
+retry_delete:
 	/*
 	 * Even if the timer is not longer accessible from other tasks
 	 * it still might be armed and queued in the underlying timer