diff --git a/deps/pyk_release b/deps/pyk_release
index d9591f47d..580eb1f9a 100644
--- a/deps/pyk_release
+++ b/deps/pyk_release
@@ -1 +1 @@
-v0.1.505
+v0.1.506
diff --git a/pykwasm/poetry.lock b/pykwasm/poetry.lock
index e7fd9be8f..655504043 100644
--- a/pykwasm/poetry.lock
+++ b/pykwasm/poetry.lock
@@ -895,7 +895,7 @@ plugins = ["importlib-metadata"]
 
 [[package]]
 name = "pyk"
-version = "0.1.505"
+version = "0.1.506"
 description = ""
 category = "main"
 optional = false
@@ -916,8 +916,8 @@ tomli = "^2.0.1"
 [package.source]
 type = "git"
 url = "https://github.com/runtimeverification/pyk.git"
-reference = "v0.1.505"
-resolved_reference = "714e709aaae4fb4417f9f8266b4ed09edeb561ca"
+reference = "v0.1.506"
+resolved_reference = "5d9e84673c79f2bad96eff4e83dacc04646e7158"
 
 [[package]]
 name = "pyperclip"
@@ -1145,4 +1145,4 @@ testing = ["big-O", "jaraco.functools", "jaraco.itertools", "more-itertools", "p
 [metadata]
 lock-version = "2.0"
 python-versions = "^3.10"
-content-hash = "dc6805f50a16a6151dcb59b004621629289c369a68cf41d3bd2a3cc6ceb92395"
+content-hash = "7f7095b47262b236eb9887e68920d5b88d341c91852e41804447ccff4c5fa125"
diff --git a/pykwasm/pyproject.toml b/pykwasm/pyproject.toml
index 79bdc0b81..351d82da2 100644
--- a/pykwasm/pyproject.toml
+++ b/pykwasm/pyproject.toml
@@ -14,7 +14,7 @@ authors = [
 python = "^3.10"
 cytoolz = "^0.12.1"
 numpy = "^1.24.2"
-pyk = { git = "https://github.com/runtimeverification/pyk.git", tag="v0.1.505" }
+pyk = { git = "https://github.com/runtimeverification/pyk.git", tag="v0.1.506" }
 py-wasm = {url = "https://github.com/runtimeverification/py-wasm/archive/refs/tags/0.1.1.tar.gz"}
 
 [tool.poetry.group.dev.dependencies]