diff --git a/.changeset/new-fireants-bake.md b/.changeset/new-fireants-bake.md
new file mode 100644
index 0000000000..81bd596e43
--- /dev/null
+++ b/.changeset/new-fireants-bake.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: move store setup/cleanup outside of async component body
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/transform-client.js b/packages/svelte/src/compiler/phases/3-transform/client/transform-client.js
index 7f25e6c0d2..124438a9da 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/transform-client.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/transform-client.js
@@ -209,7 +209,8 @@ export function client_component(analysis, options) {
 
 	/** @type {ESTree.Statement[]} */
 	const store_setup = [];
-
+	/** @type {ESTree.Statement} */
+	let store_init = b.empty;
 	/** @type {ESTree.VariableDeclaration[]} */
 	const legacy_reactive_declarations = [];
 
@@ -227,8 +228,9 @@ export function client_component(analysis, options) {
 		if (binding.kind === 'store_sub') {
 			if (store_setup.length === 0) {
 				needs_store_cleanup = true;
-				store_setup.push(
-					b.const(b.array_pattern([b.id('$$stores'), b.id('$$cleanup')]), b.call('$.setup_stores'))
+				store_init = b.const(
+					b.array_pattern([b.id('$$stores'), b.id('$$cleanup')]),
+					b.call('$.setup_stores')
 				);
 			}
 
@@ -385,9 +387,16 @@ export function client_component(analysis, options) {
 		analysis.slot_names.size > 0;
 
 	if (analysis.instance.has_await) {
+		const params = [b.id('$$anchor')];
+		if (should_inject_props) {
+			params.push(b.id('$$props'));
+		}
+		if (store_setup.length > 0) {
+			params.push(b.id('$$stores'));
+		}
 		const body = b.function_declaration(
 			b.id('$$body'),
-			should_inject_props ? [b.id('$$anchor'), b.id('$$props')] : [b.id('$$anchor')],
+			params,
 			b.block([
 				b.var('$$unsuspend', b.call('$.suspend')),
 				...component_block.body,
@@ -403,10 +412,12 @@ export function client_component(analysis, options) {
 		component_block = b.block([
 			b.var('fragment', b.call('$.comment')),
 			b.var('node', b.call('$.first_child', b.id('fragment'))),
-			b.stmt(b.call(body.id, b.id('node'), should_inject_props && b.id('$$props'))),
+			store_init,
+			b.stmt(b.call(body.id, b.id('node'), ...params.slice(1))),
 			b.stmt(b.call('$.append', b.id('$$anchor'), b.id('fragment')))
 		]);
 	} else {
+		component_block.body.unshift(store_init);
 		component_block.body.push(.../** @type {ESTree.Statement[]} */ (template.body));
 	}