diff --git a/mlir/lib/ExecutionEngine/LevelZeroRuntimeWrappers.cpp b/mlir/lib/ExecutionEngine/LevelZeroRuntimeWrappers.cpp
index 7859fb3feaabc..01965da038820 100644
--- a/mlir/lib/ExecutionEngine/LevelZeroRuntimeWrappers.cpp
+++ b/mlir/lib/ExecutionEngine/LevelZeroRuntimeWrappers.cpp
@@ -12,6 +12,7 @@
 
 #include "level_zero/ze_api.h"
 #include <cassert>
+#include <cstring>
 #include <deque>
 #include <exception>
 #include <functional>
@@ -379,16 +380,15 @@ struct StreamWrapper {
   }
 };
 
-static ze_module_handle_t loadModule(const void *data, size_t dataSize) {
+static ze_module_handle_t
+loadModule(const void *data, size_t dataSize,
+           ze_module_format_t format = ZE_MODULE_FORMAT_NATIVE) {
   assert(data);
   ze_module_handle_t zeModule;
-  ze_module_desc_t desc = {ZE_STRUCTURE_TYPE_MODULE_DESC,
-                           nullptr,
-                           ZE_MODULE_FORMAT_IL_SPIRV,
-                           dataSize,
-                           (const uint8_t *)data,
-                           nullptr,
-                           nullptr};
+  ze_module_desc_t desc = {
+      ZE_STRUCTURE_TYPE_MODULE_DESC, nullptr, format, dataSize,
+      (const uint8_t *)data,         nullptr, nullptr};
+
   ze_module_build_log_handle_t buildLogHandle;
   ze_result_t result =
       zeModuleCreate(getRtContext().context.get(), getRtContext().device, &desc,
@@ -520,6 +520,13 @@ extern "C" ze_module_handle_t mgpuModuleLoad(const void *data,
   return catchAll([&]() { return loadModule(data, gpuBlobSize); });
 }
 
+extern "C" ze_module_handle_t mgpuModuleLoadJIT(void *data, int optLevel) {
+  return catchAll([&]() {
+    return loadModule(data, strlen(reinterpret_cast<char *>(data)),
+                      ZE_MODULE_FORMAT_IL_SPIRV);
+  });
+}
+
 extern "C" ze_kernel_handle_t mgpuModuleGetFunction(ze_module_handle_t module,
                                                     const char *name) {
   assert(module && name);
diff --git a/mlir/lib/Target/LLVM/XeVM/Target.cpp b/mlir/lib/Target/LLVM/XeVM/Target.cpp
index e7c4f1764bb37..83eec5e9d5549 100644
--- a/mlir/lib/Target/LLVM/XeVM/Target.cpp
+++ b/mlir/lib/Target/LLVM/XeVM/Target.cpp
@@ -107,9 +107,8 @@ gpu::GPUModuleOp SerializeGPUModuleBase::getGPUModuleOp() {
 // There are 2 ways to access IGC: AOT (ocloc) and JIT (L0 runtime).
 // - L0 runtime consumes IL and is external to MLIR codebase (rt wrappers).
 // - `ocloc` tool can be "queried" from within MLIR.
-FailureOr<SmallVector<char, 0>>
-SerializeGPUModuleBase::compileToBinary(StringRef asmStr,
-                                        StringRef inputFormat) {
+FailureOr<SmallVector<char, 0>> SerializeGPUModuleBase::compileToBinary(
+    StringRef asmStr, StringRef inputFormat = "-spirv_input") {
   using TmpFile = std::pair<llvm::SmallString<128>, llvm::FileRemover>;
   // Find the `ocloc` tool.
   std::optional<std::string> oclocCompiler = findTool("ocloc");
@@ -341,7 +340,20 @@ SPIRVSerializer::moduleToObject(llvm::Module &llvmModule) {
     return SmallVector<char, 0>(bin.begin(), bin.end());
   }
 
-  // Level zero runtime is set up to accept SPIR-V binary
+  // Binary generation path for SPIR-V target. Optimization and SPIR-V
+  // extensions are enabled in this path. In this path, first the SPIR-V binary
+  // is generated directly using the SPIR-V backends `SPIRVTranslateModule` API.
+  // Resultant SPIR-V is then fed to `ocloc` compiler (Intel's OpenCL Offline
+  // Compiler) to generate the final binary for Intel GPUs.
+
+  // @TODO: This part is doing exact same SPIR-V code generation as the previous
+  // section under (targetOptions.getCompilationTarget() ==
+  // gpu::CompilationTarget::Assembly) condition. Only execption is, it enables
+  // optimization and SPIRV extensions support for SPIRV binary output. We need
+  // to decide which one do we use for our SPIRV code generation, and remove the
+  // other one to avoid confusion. For now, we keep both to have more
+  // flexibility for testing and comparison.
+
   std::string serializedSPIRVBinary;
   std::string ErrMsg;
   std::vector<std::string> Opts;
@@ -361,8 +373,9 @@ SPIRVSerializer::moduleToObject(llvm::Module &llvmModule) {
     return getGPUModuleOp().emitError()
            << "SPIRV code size must be a multiple of 4.";
 
-  StringRef bin(serializedSPIRVBinary.c_str(), serializedSPIRVBinary.size());
-  return SmallVector<char, 0>(bin.begin(), bin.end());
+  StringRef spirvBin(serializedSPIRVBinary.c_str(),
+                     serializedSPIRVBinary.size());
+  return compileToBinary(spirvBin, "-spirv_input");
 #endif // LLVM_HAS_SPIRV_TARGET
 }