non-linear complexity of :reload combined with :module in ghci

ghci shows non-linear time complexity for a sequence of :module and :reload commands, say we do multiple times:

ghci> :module *Foo
ghci> :reload

Steps to reproduce:

$ time for i in {1..10}; do echo -e ':m Prelude\n:r'; done |ghci
$ time for i in {1..99}; do echo -e ':m Prelude\n:r'; done |ghci

On my system the first run uses 1 second of CPU time, the second 39 seconds.

(with GHC 7.0.3, Linux x86_64)

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