Previous efforts have demonstrated that high‐pressure CO2 can markedly influence the phase behavior of amorphous polymer blends. In this work, we examine the effect of high‐pressure CO2 on the miscibility of blends composed of glassy poly(methyl methacrylate) (PMMA) and semicrystalline poly(vinylidene fluoride) (PVDF). Blends of this type are known to exhibit lower critical solution temperature (LCST) behavior with partial miscibility up to ≈50–60 wt.‐% PVDF at ambient conditions. Two miscible PMMA/PVDF blends have been systematically exposed to high‐pressure CO2 at 35 °C and pressures below and above the critical pressure. Small‐angle X‐ray scattering reveals that the scattering intensity at high scattering angles shows little dependence on pressure at low CO2 pressures, but increases substantially at relatively high CO2 pressures. Transmission electron microscopy and differential scanning calorimetry analyses confirm that the blends are initially quasi‐homogeneous with diffuse PVDF‐rich dispersions and a single glass transition temperature. After exposure to relatively high CO2 pressures, however, the PVDF is found to crystallize within the PMMA‐rich matrix. Thermal recycling of these blends promotes homogenization, indicating that such CO2‐altered phase behavior is reversible.SAXS patterns acquired from the 69/31 w/w PMMA/PVDF blend.magnified imageSAXS patterns acquired from the 69/31 w/w PMMA/PVDF blend.