diff --git a/cpdf.ml b/cpdf.ml
index 35fd853..7a1d99b 100644
--- a/cpdf.ml
+++ b/cpdf.ml
@@ -104,35 +104,40 @@ let really_squeeze pdf =
 (* Squeeze the form xobject at objnum. FIXME: For old PDFs (< v1.2) any
 resources from the page (or its ancestors in the page tree!) are also needed -
 we must merge them with the ones from the xobject itself. *)
+let xobjects_done = ref []
+
 let squeeze_form_xobject pdf objnum =
-  let obj = Pdf.lookup_obj pdf objnum in
-    match Pdf.lookup_direct pdf "/Subtype" obj with
-      Some (Pdf.Name "/Form") ->
-        let resources =
-          match Pdf.lookup_direct pdf "/Resources" obj with
-            Some d -> d
-          | None -> Pdf.Dictionary []
-        in
-          begin match
-            Pdfops.stream_of_ops
-              (Pdfops.parse_operators pdf resources [Pdf.Indirect objnum])
-          with
-            Pdf.Stream {contents = (_, Pdf.Got data)} ->
-              (* Put replacement data in original stream, and overwrite /Length *)
-              begin match obj with
-                Pdf.Stream ({contents = (d, _)} as str) ->
-                  str :=
-                    (Pdf.add_dict_entry d "/Length" (Pdf.Integer (bytes_size data)),
-                     Pdf.Got data)
-              | _ -> failwith "squeeze_form_xobject"
-              end
-          | _ -> failwith "squeeze_form_xobject"
-          end
-    | _ -> ()
+  if mem objnum !xobjects_done then () else
+    xobjects_done := objnum :: !xobjects_done;
+    let obj = Pdf.lookup_obj pdf objnum in
+      match Pdf.lookup_direct pdf "/Subtype" obj with
+        Some (Pdf.Name "/Form") ->
+          let resources =
+            match Pdf.lookup_direct pdf "/Resources" obj with
+              Some d -> d
+            | None -> Pdf.Dictionary []
+          in
+            begin match
+              Pdfops.stream_of_ops
+                (Pdfops.parse_operators pdf resources [Pdf.Indirect objnum])
+            with
+              Pdf.Stream {contents = (_, Pdf.Got data)} ->
+                (* Put replacement data in original stream, and overwrite /Length *)
+                begin match obj with
+                  Pdf.Stream ({contents = (d, _)} as str) ->
+                    str :=
+                      (Pdf.add_dict_entry d "/Length" (Pdf.Integer (bytes_size data)),
+                       Pdf.Got data)
+                | _ -> failwith "squeeze_form_xobject"
+                end
+            | _ -> failwith "squeeze_form_xobject"
+            end
+      | _ -> ()
 
 (* For each object in the PDF marked with /Type /Page, for each /Contents
 indirect reference or array of such, decode and recode that content stream. *)
 let squeeze_all_content_streams pdf =
+  xobjects_done := [];
   Pdf.objiter
     (fun objnum _ ->
       match Pdf.lookup_obj pdf objnum with
@@ -165,8 +170,7 @@ let squeeze_all_content_streams pdf =
                       d "/Contents" (Pdf.Indirect (Pdf.addobj pdf newstream))
                   in
                     Pdf.addobj_given_num pdf (objnum, newdict);
-                    (* Now process all xobjects related to this page
-                    FIXME due to their shared nature, we are overdoing this work! *)
+                    (* Now process all xobjects related to this page *)
                     begin match Pdf.lookup_direct pdf "/XObject" resources with
                       Some (Pdf.Dictionary xobjs) ->
                         iter