A system has a pipelined processor for executing a plurality of instructions by sequentially fetching, decoding, executing and writing results associated with execution of each instruction. Debug circuitry is coupled to the pipelined processor for monitoring execution of the instructions to determine when a debug event occurs. The debug circuitry generates a debug exception to interrupt instruction processing flow. The debug circuitry has control circuitry for indicating a number of instructions, if any, that complete instruction execution between an instruction that caused the debug event and a point in instruction execution when the exception is taken.