diff --git a/Gemfile.lock b/Gemfile.lock
index e55c5c0e21fda..4d2254af78722 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -33,7 +33,7 @@ PATH
       metasploit-concern
       metasploit-credential
       metasploit-model
-      metasploit-payloads (= 2.0.148)
+      metasploit-payloads (= 2.0.154)
       metasploit_data_models
       metasploit_payloads-mettle (= 1.0.26)
       mqtt
@@ -275,7 +275,7 @@ GEM
       activemodel (~> 7.0)
       activesupport (~> 7.0)
       railties (~> 7.0)
-    metasploit-payloads (2.0.148)
+    metasploit-payloads (2.0.154)
     metasploit_data_models (6.0.2)
       activerecord (~> 7.0)
       activesupport (~> 7.0)
diff --git a/LICENSE_GEMS b/LICENSE_GEMS
index 425f0d8e99853..263c99e81cec0 100644
--- a/LICENSE_GEMS
+++ b/LICENSE_GEMS
@@ -80,7 +80,7 @@ metasploit-concern, 5.0.1, "New BSD"
 metasploit-credential, 6.0.5, "New BSD"
 metasploit-framework, 6.3.37, "New BSD"
 metasploit-model, 5.0.1, "New BSD"
-metasploit-payloads, 2.0.148, "3-clause (or ""modified"") BSD"
+metasploit-payloads, 2.0.154, "3-clause (or ""modified"") BSD"
 metasploit_data_models, 6.0.2, "New BSD"
 metasploit_payloads-mettle, 1.0.26, "3-clause (or ""modified"") BSD"
 method_source, 1.0.0, MIT
diff --git a/lib/msf/core/feature_manager.rb b/lib/msf/core/feature_manager.rb
index 227e3e9757a2c..baa79c1699676 100644
--- a/lib/msf/core/feature_manager.rb
+++ b/lib/msf/core/feature_manager.rb
@@ -18,6 +18,7 @@ class FeatureManager
     DATASTORE_FALLBACKS = 'datastore_fallbacks'
     FULLY_INTERACTIVE_SHELLS = 'fully_interactive_shells'
     MANAGER_COMMANDS = 'manager_commands'
+    METASPLOIT_PAYLOAD_WARNINGS = 'metasploit_payload_warnings'
     DEFAULTS = [
       {
         name: WRAPPED_TABLES,
@@ -39,6 +40,12 @@ class FeatureManager
         description: 'When enabled you can consistently set username across modules, instead of setting SMBUser/FTPUser/BIND_DN/etc',
         requires_restart: true,
         default_value: true
+      }.freeze,
+      {
+        name: METASPLOIT_PAYLOAD_WARNINGS,
+        description: 'When enabled Metasploit will output warnings about missing Metasploit payloads, for instance if they were removed by antivirus etc',
+        requires_restart: true,
+        default_value: false
       }.freeze
     ].freeze
 
diff --git a/lib/msf/core/payload/stager.rb b/lib/msf/core/payload/stager.rb
index 01840c6cf8368..354f1ad960fb3 100644
--- a/lib/msf/core/payload/stager.rb
+++ b/lib/msf/core/payload/stager.rb
@@ -188,15 +188,14 @@ def handle_connection(conn, opts={})
         end
       end
 
-      p = generate_stage(opts)
-
-      # Encode the stage if stage encoding is enabled
+      # Generate and encode the stage if stage encoding is enabled
       begin
+        p = generate_stage(opts)
         p = encode_stage(p)
-      rescue ::RuntimeError
+      rescue ::RuntimeError, ::StandardError => e
         warning_msg = "Failed to stage"
         warning_msg << " (#{conn.peerhost})"  if conn.respond_to? :peerhost
-        warning_msg << ": #{$!}"
+        warning_msg << ": #{e}"
         print_warning warning_msg
         if conn.respond_to? :close && !conn.closed?
           conn.close
diff --git a/lib/msf/ui/console/driver.rb b/lib/msf/ui/console/driver.rb
index fd3ec84f4daeb..4b82016533283 100644
--- a/lib/msf/ui/console/driver.rb
+++ b/lib/msf/ui/console/driver.rb
@@ -364,7 +364,19 @@ def on_startup(opts = {})
 
     run_single("banner") unless opts['DisableBanner']
 
-    av_warning_message if framework.eicar_corrupted?
+    payloads_manifest_errors = framework.features.enabled?(::Msf::FeatureManager::METASPLOIT_PAYLOAD_WARNINGS) ? ::MetasploitPayloads.manifest_errors : []
+
+    av_warning_message if (framework.eicar_corrupted? || payloads_manifest_errors.any?)
+
+    if framework.features.enabled?(::Msf::FeatureManager::METASPLOIT_PAYLOAD_WARNINGS)
+      if payloads_manifest_errors.any?
+        warn_msg = "Metasploit Payloads manifest errors:\n"
+        payloads_manifest_errors.each do |file|
+          warn_msg << "\t#{file[:path]} : #{file[:error]}\n"
+        end
+        $stderr.print(warn_msg)
+      end
+    end
 
     opts["Plugins"].each do |plug|
       run_single("load '#{plug}'")
diff --git a/metasploit-framework.gemspec b/metasploit-framework.gemspec
index ec91fba77e784..4ebfc3c277d47 100644
--- a/metasploit-framework.gemspec
+++ b/metasploit-framework.gemspec
@@ -72,7 +72,7 @@ Gem::Specification.new do |spec|
   # are needed when there's no database
   spec.add_runtime_dependency 'metasploit-model'
   # Needed for Meterpreter
-  spec.add_runtime_dependency 'metasploit-payloads', '2.0.148'
+  spec.add_runtime_dependency 'metasploit-payloads', '2.0.154'
   # Needed for the next-generation POSIX Meterpreter
   spec.add_runtime_dependency 'metasploit_payloads-mettle', '1.0.26'
   # Needed by msfgui and other rpc components
diff --git a/scripts/resource/meterpreter_compatibility.rc b/scripts/resource/meterpreter_compatibility.rc
index bef129ea4c4aa..072cc0493efbe 100644
--- a/scripts/resource/meterpreter_compatibility.rc
+++ b/scripts/resource/meterpreter_compatibility.rc
@@ -13,7 +13,7 @@ framework.sessions.values.map do |session|
     puts "[#{Time.now}][#{extension_name}] Starting to loading extension"
     session.core.use(extension_name)
     puts "[#{Time.now}][#{extension_name}] Loaded extension"
-  rescue ::RuntimeError
+  rescue ::RuntimeError, ::MetasploitPayloads::Error
     puts "[#{Time.now}][#{extension_name}] Failed loading"
     # noop
   end
diff --git a/test/modules/post/test/extapi.rb b/test/modules/post/test/extapi.rb
index 3e79250974148..630ece1dcb331 100644
--- a/test/modules/post/test/extapi.rb
+++ b/test/modules/post/test/extapi.rb
@@ -30,7 +30,7 @@ def setup
       vprint_status("Loading extapi extension...")
       begin
         session.core.use("extapi")
-      rescue Errno::ENOENT, Rex::Post::Meterpreter::ExtensionLoadError
+      rescue Errno::ENOENT, Rex::Post::Meterpreter::ExtensionLoadError, ::MetasploitPayloads::Error
         print_status("This module is only available in a windows meterpreter session.")
         return
       end