Index: core/src/main/java/org/infinispan/marshall/MarshalledValue.java
===================================================================
--- core/src/main/java/org/infinispan/marshall/MarshalledValue.java	(revision 2324)
+++ core/src/main/java/org/infinispan/marshall/MarshalledValue.java	(revision )
@@ -180,7 +180,7 @@
       if (instance != null && that.instance != null) return instance.equals(that.instance);
 
       // if conversion of one representation to the other is necessary, then see which we prefer converting.
-      if (equalityPreferenceForInstance) {
+      if (equalityPreferenceForInstance && that.equalityPreferenceForInstance) {
          if (instance == null) deserialize();
          if (that.instance == null) that.deserialize();
          return instance.equals(that.instance);
@@ -216,6 +216,11 @@
       return sb.toString();
    }
 
+   public MarshalledValue setEqualityPreferenceForInstance(boolean equalityPreferenceForInstance) {
+      this.equalityPreferenceForInstance = equalityPreferenceForInstance;
+      return this;
+   }
+
    /**
     * Tests whether the type should be excluded from MarshalledValue wrapping.
     *
Index: core/src/test/java/org/infinispan/marshall/MarshalledValueTest.java
===================================================================
--- core/src/test/java/org/infinispan/marshall/MarshalledValueTest.java	(revision 1467)
+++ core/src/test/java/org/infinispan/marshall/MarshalledValueTest.java	(revision )
@@ -478,6 +478,17 @@
       assert !cache1.containsKey(pojo);
    }
 
+   public void testModificationsOnSameCustomKey() {
+      Cache cache1 = cache(0, "replSync");
+      Cache cache2 = cache(1, "replSync");
+
+      Pojo key = new Pojo();
+      cache1.put(key, "1");
+      cache2.put(key, "2");
+
+      assertSerializationCounts(3, 0);
+   }
+
    @Listener
    public static class MockListener {
       Object newValue;
Index: core/src/main/java/org/infinispan/interceptors/MarshalledValueInterceptor.java
===================================================================
--- core/src/main/java/org/infinispan/interceptors/MarshalledValueInterceptor.java	(revision 2165)
+++ core/src/main/java/org/infinispan/interceptors/MarshalledValueInterceptor.java	(revision )
@@ -26,6 +26,7 @@
 import org.infinispan.commands.read.GetKeyValueCommand;
 import org.infinispan.commands.read.KeySetCommand;
 import org.infinispan.commands.read.ValuesCommand;
+import org.infinispan.commands.write.InvalidateCommand;
 import org.infinispan.commands.write.PutKeyValueCommand;
 import org.infinispan.commands.write.PutMapCommand;
 import org.infinispan.commands.write.RemoveCommand;
@@ -113,6 +114,12 @@
          value = createMarshalledValue(command.getValue(), ctx);
          command.setValue(value);
       }
+
+      // If origin is remote, set equality preference for raw so that deserialization is avoided
+      // Don't do this for local invocations so that unnecessary serialization is avoided.
+      if (!ctx.isOriginLocal() && command.getKey() instanceof MarshalledValue)
+         ((MarshalledValue) command.getKey()).setEqualityPreferenceForInstance(false);
+      
       Object retVal = invokeNextInterceptor(ctx, command);
       compact(key);
       compact(value);
@@ -224,6 +231,20 @@
       return processRetVal(retVal);
    }
 
+   @Override
+   public Object visitInvalidateCommand(InvocationContext ctx, InvalidateCommand command) throws Throwable {
+      // If origin is remote, set equality preference for raw so that deserialization is avoided
+      // Don't do this for local invocations so that unnecessary serialization is avoided.
+      if (!ctx.isOriginLocal()) {
+         for (Object key : command.getKeys()) {
+            if (key instanceof MarshalledValue)
+               ((MarshalledValue) key).setEqualityPreferenceForInstance(false);
+         }
+      }
+
+      return invokeNextInterceptor(ctx, command);
+   }
+
    private Object compactAndProcessRetVal(Set<MarshalledValue> marshalledValues, Object retVal)
            throws IOException, ClassNotFoundException {
       if (trace) log.trace("Compacting MarshalledValues created");
Index: core/src/test/java/org/infinispan/marshall/InvalidatedMarshalledValueTest.java
===================================================================
--- core/src/test/java/org/infinispan/marshall/InvalidatedMarshalledValueTest.java	(revision )
+++ core/src/test/java/org/infinispan/marshall/InvalidatedMarshalledValueTest.java	(revision )
@@ -0,0 +1,56 @@
+package org.infinispan.marshall;
+
+import org.infinispan.Cache;
+import org.infinispan.config.Configuration;
+import org.infinispan.interceptors.InterceptorChain;
+import org.infinispan.interceptors.MarshalledValueInterceptor;
+import org.infinispan.test.MultipleCacheManagersTest;
+import org.infinispan.test.TestingUtil;
+import org.testng.annotations.Test;
+import org.infinispan.marshall.MarshalledValueTest.Pojo;
+
+/**
+ * // TODO: Document this
+ *
+ * @author Galder Zamarre–o
+ * @since // TODO
+ */
+@Test(groups = "functional", testName = "marshall.InvalidatedMarshalledValueTest")
+public class InvalidatedMarshalledValueTest extends MultipleCacheManagersTest {
+
+   protected void createCacheManagers() throws Throwable {
+      Cache cache1, cache2;
+      Configuration invlSync = getDefaultClusteredConfig(Configuration.CacheMode.INVALIDATION_SYNC);
+      invlSync.setUseLazyDeserialization(true);
+
+      createClusteredCaches(2, "invlSync", invlSync);
+
+      cache1 = cache(0, "invlSync");
+      cache2 = cache(1, "invlSync");
+
+      assertMarshalledValueInterceptorPresent(cache1);
+      assertMarshalledValueInterceptorPresent(cache2);
+   }
+
+   private void assertMarshalledValueInterceptorPresent(Cache c) {
+      InterceptorChain ic1 = TestingUtil.extractComponent(c, InterceptorChain.class);
+      assert ic1.containsInterceptorType(MarshalledValueInterceptor.class);
+   }
+
+   public void testModificationsOnSameCustomKey() {
+      Cache cache1 = cache(0, "invlSync");
+      Cache cache2 = cache(1, "invlSync");
+
+      Pojo key = new Pojo();
+      cache2.put(key, "1");
+      cache1.put(key, "1");
+
+      assertSerializationCounts(3, 0);
+   }
+
+   private void assertSerializationCounts(int serializationCount, int deserializationCount) {
+      assert Pojo.serializationCount == serializationCount : "Serialization count: expected " + serializationCount + " but was " + Pojo.serializationCount;
+      assert Pojo.deserializationCount == deserializationCount : "Deserialization count: expected " + deserializationCount + " but was " + Pojo.deserializationCount;
+   }
+   
+}