modulo scheduling, instruction scheduling, software pipelining, loop scheduling Modulo scheduling is a framework within which algorithms for the software pipelining of innermost loops may be defined. The framework specifies a set of constraints that must be met in order to achieve a legal modulo schedule. A wide variety of algorithms and heuristics can be defined within this framework. Little work has been done to evaluate and compare alternative algorithms and heuristics for modulo scheduling from the viewpoints of schedule quality as well as computational complexity. This, along with a vague and unfounded perception that modulo scheduling is computationally expensive as well as difficult to implement, have inhibited its incorporation into product compilers. This report presents iterative modulo scheduling, a practical algorithm that is capable of dealing with realistic machine models. The report also characterizes the algorithm in terms of the quality of the generated schedules as well the computational expense incurred.