diff -u b/modules/simpletest/tests/module_test.info b/modules/simpletest/tests/module_test.info
--- b/modules/simpletest/tests/module_test.info
+++ b/modules/simpletest/tests/module_test.info
@@ -10 +10 @@
-dependencies[] = list
+dependencies[] = list (>=7.x)
diff -u b/modules/simpletest/tests/module_test.module b/modules/simpletest/tests/module_test.module
--- b/modules/simpletest/tests/module_test.module
+++ b/modules/simpletest/tests/module_test.module
@@ -52,7 +52,6 @@
   if ($file->name == 'seven' && $type == 'theme') {
     $info['regions']['test_region'] = t('Test region');
   }
-
   if ($file->name == 'module_test' && variable_get('module_test_hook_system_info_alter')) {
     $info['required'] = TRUE;
     $info['explanation'] = 'Testing hook_system_info_alter()';
diff -u b/modules/system/system.module b/modules/system/system.module
--- b/modules/system/system.module
+++ b/modules/system/system.module
@@ -2422,12 +2422,6 @@
     drupal_alter('system_info', $modules[$key]->info, $modules[$key], $type);
   }
 
-  // It is possible that a module was marked as required by
-  // hook_system_info_alter() and modules that it depends on are not required.
-  foreach ($modules as $module) {
-    _system_rebuild_module_data_ensure_required($module, $modules);
-  }
-
   if (isset($modules[$profile])) {
     // The installation profile is required, if it's a valid module.
     $modules[$profile]->info['required'] = TRUE;
@@ -2439,6 +2433,12 @@
     drupal_alter('system_info', $modules[$key]->info, $modules[$key], $type);
   }
 
+  // It is possible that a module was marked as required by
+  // hook_system_info_alter() and modules that it depends on are not required.
+  foreach ($modules as $module) {
+    _system_rebuild_module_data_ensure_required($module, $modules);
+  }
+
   if (isset($modules[$profile])) {
     // The installation profile is required, if it's a valid module.
     $modules[$profile]->info['required'] = TRUE;
@@ -2462,12 +2462,14 @@
  */
 function _system_rebuild_module_data_ensure_required($module, &$modules) {
   if (!empty($module->info['required'])) {
-    foreach ($module->info['dependencies'] as $dependant) {
-      if (!isset($modules[$dependant]->info['required'])) {
-        $modules[$dependant]->info['required'] = TRUE;
-        $modules[$dependant]->info['explanation'] = t('Dependency of required module @module', array('@module' => $module->name));
+    foreach ($module->info['dependencies'] as $dependency) {
+      $dependency_data = drupal_parse_dependency($dependency);
+      $dependency_name = $dependency_data['name'];
+      if (!isset($modules[$dependency_name]->info['required'])) {
+        $modules[$dependency_name]->info['required'] = TRUE;
+        $modules[$dependency_name]->info['explanation'] = t('Dependency of required module @module', array('@module' => $module->info['name']));
         // Ensure any dependencies it has are required.
-        _system_rebuild_module_data_ensure_required($modules[$dependant], $modules);
+        _system_rebuild_module_data_ensure_required($modules[$dependency_name], $modules);
       }
     }
   }
diff -u b/modules/system/system.test b/modules/system/system.test
--- b/modules/system/system.test
+++ b/modules/system/system.test
@@ -2145,9 +2145,6 @@
    * return freshly altered info.
    */
   function testSystemInfoAlter() {
-    variable_set('module_test_hook_system_info_alter', TRUE);
-    $info = system_rebuild_module_data();
-    $this->assertFalse(isset($info['list']->info['required']), 'Before the module_test is installed the list module is not required.');
     // Enable our test module. Flush all caches, which we assert is the only
     // thing necessary to use the rebuilt {system}.info.
     module_enable(array('module_test'), FALSE);
@@ -2163,9 +2160,6 @@
     $this->assertTrue(isset($info['regions']['test_region']), 'Altered theme info was returned by system_list().');
     $list_themes = list_themes();
     $this->assertTrue(isset($list_themes['seven']->info['regions']['test_region']), 'Altered theme info was returned by list_themes().');
-    $info = system_rebuild_module_data();
-    $this->assertTrue($info['list']->info['required'], 'After the module_test is installed the list module is required.');
-    variable_set('module_test_hook_system_info_alter', FALSE);
 
     // Disable the module and verify that {system}.info is rebuilt without it.
     module_disable(array('module_test'), FALSE);
@@ -2217,6 +2211,9 @@
    * return freshly altered info.
    */
   function testSystemInfoAlter() {
+    variable_set('module_test_hook_system_info_alter', TRUE);
+    $info = system_rebuild_module_data();
+    $this->assertFalse(isset($info['list']->info['required']), 'Before the module_test is installed the list module is not required.');
     // Enable our test module. Flush all caches, which we assert is the only
     // thing necessary to use the rebuilt {system}.info.
     module_enable(array('module_test'), FALSE);
@@ -2232,6 +2229,9 @@
     $this->assertTrue(isset($info['regions']['test_region']), 'Altered theme info was returned by system_list().');
     $list_themes = list_themes();
     $this->assertTrue(isset($list_themes['seven']->info['regions']['test_region']), 'Altered theme info was returned by list_themes().');
+    $info = system_rebuild_module_data();
+    $this->assertTrue($info['list']->info['required'], 'After the module_test is installed the list module is required.');
+    variable_set('module_test_hook_system_info_alter', FALSE);
 
     // Disable the module and verify that {system}.info is rebuilt without it.
     module_disable(array('module_test'), FALSE);