diff --git a/src/lib.rs b/src/lib.rs
index f7b1bba..6a45c5b 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -492,6 +492,9 @@ impl<T, const N: usize> Drain<'_, T, N> {
         let vec = unsafe { self.vec.as_mut() };
         let range_start = vec.len();
         let range_end = self.tail_start;
+        // Whether the buffer lives on the heap does not change while filling, so
+        // read it once, before `range_slice` is created.
+        let on_heap = vec.len.on_heap();
         let range_slice = unsafe {
             core::slice::from_raw_parts_mut(
                 vec.as_mut_ptr().add(range_start),
@@ -499,10 +502,20 @@ impl<T, const N: usize> Drain<'_, T, N> {
             )
         };
 
+        let mut len = range_start;
         for place in range_slice {
             if let Some(new_item) = replace_with.next() {
                 unsafe { core::ptr::write(place, new_item) };
-                vec.set_len(vec.len() + 1);
+                len += 1;
+                // Update the length by writing the `len` field directly rather
+                // than calling `vec.set_len(..)`. Calling a `&mut self` method
+                // reborrows the whole `SmallVec`; when the buffer is inline it
+                // aliases `range_slice`, so that reborrow would invalidate
+                // `range_slice` (and the `place` reference derived from it) under
+                // Stacked Borrows, causing undefined behavior on the next
+                // iteration. This mirrors the standard library's `Drain::fill`,
+                // which bumps `vec.len` directly for the same reason.
+                vec.len = TaggedLen::new(len, on_heap);
             } else {
                 return false;
             }
@@ -524,8 +537,14 @@ impl<T, const N: usize> Drain<'_, T, N> {
 
         let new_tail_start = self.tail_start + additional;
         unsafe {
-            let src = vec.as_ptr().add(self.tail_start);
-            let dst = vec.as_mut_ptr().add(new_tail_start);
+            // Derive both the source and destination from a single mutable base
+            // pointer. Taking a `*const` via `vec.as_ptr()` and then reborrowing
+            // the whole `SmallVec` again via `vec.as_mut_ptr()` would invalidate
+            // the former under Stacked Borrows when the buffer is inline (the
+            // buffer aliases the `SmallVec` that `as_mut_ptr` reborrows).
+            let base = vec.as_mut_ptr();
+            let src = base.add(self.tail_start);
+            let dst = base.add(new_tail_start);
             core::ptr::copy(src, dst, self.tail_len);
         }
         self.tail_start = new_tail_start;
diff --git a/src/tests.rs b/src/tests.rs
index cfd801b..be374fd 100644
--- a/src/tests.rs
+++ b/src/tests.rs
@@ -165,6 +165,51 @@ fn splice() {
     assert_eq!(u, [0, 1, 2]);
 }
 
+// Splicing an *inline* `SmallVec` used to trigger undefined behavior (a Stacked
+// Borrows aliasing violation): `Drain::fill` and `Drain::move_tail` held a
+// reference/pointer into the inline buffer while reborrowing the whole
+// `SmallVec` (via `set_len`/`as_mut_ptr`), which aliases that buffer. All of
+// these cases keep the vector inline (`N` is large), so they exercise the fix.
+// Run under `cargo miri test` to detect a regression.
+#[test]
+fn splice_inline() {
+    // more replacements than removed -> fill + move_tail + fill
+    let mut v: SmallVec<i32, 16> = smallvec![1, 2, 3, 4, 5];
+    let u: SmallVec<i32, 16> = v.splice(1..3, [10, 11, 12]).collect();
+    assert!(!v.spilled());
+    assert_eq!(u, [2, 3]);
+    assert_eq!(v, [1, 10, 11, 12, 4, 5]);
+
+    // equal count -> fill only
+    let mut v: SmallVec<i32, 16> = smallvec![1, 2, 3, 4, 5];
+    let u: SmallVec<i32, 16> = v.splice(1..3, [20, 21]).collect();
+    assert!(!v.spilled());
+    assert_eq!(u, [2, 3]);
+    assert_eq!(v, [1, 20, 21, 4, 5]);
+
+    // fewer replacements -> partial fill, tail moved back on drop
+    let mut v: SmallVec<i32, 16> = smallvec![1, 2, 3, 4, 5, 6];
+    let u: SmallVec<i32, 16> = v.splice(1..4, [30]).collect();
+    assert!(!v.spilled());
+    assert_eq!(u, [2, 3, 4]);
+    assert_eq!(v, [1, 30, 5, 6]);
+
+    // empty tail, growing -> move_tail with tail_len == 0
+    let mut v: SmallVec<i32, 16> = smallvec![1, 2, 3];
+    let u: SmallVec<i32, 16> = v.splice(2..3, [40, 41, 42, 43]).collect();
+    assert!(!v.spilled());
+    assert_eq!(u, [3]);
+    assert_eq!(v, [1, 2, 40, 41, 42, 43]);
+
+    // loose size_hint -> "collect the remainder" branch of Splice::drop
+    let mut v: SmallVec<i32, 16> = smallvec![1, 2, 3, 4, 5];
+    let repl = (100..110).filter(|x| x % 2 == 0);
+    let u: SmallVec<i32, 16> = v.splice(1..3, repl).collect();
+    assert!(!v.spilled());
+    assert_eq!(u, [2, 3]);
+    assert_eq!(v, [1, 100, 102, 104, 106, 108, 4, 5]);
+}
+
 #[test]
 fn into_iter() {
     let mut v: SmallVec<u8, 2> = SmallVec::new();