diff --git a/include/wx/msw/bitmap.h b/include/wx/msw/bitmap.h
index eb16dd47e6..61707d8866 100644
--- a/include/wx/msw/bitmap.h
+++ b/include/wx/msw/bitmap.h
@@ -205,6 +205,9 @@ public:
     // values in its alpha channel.
     void MSWUpdateAlpha();
 
+    // Blend mask with alpha channel and remove the mask
+    void MSWBlendMaskWithAlpha();
+
 public:
 #if WXWIN_COMPATIBILITY_3_0
     wxDEPRECATED_INLINE(void SetHBITMAP(WXHBITMAP bmp), SetHandle((WXHANDLE)bmp); )
diff --git a/interface/wx/bitmap.h b/interface/wx/bitmap.h
index 57ce3e3ff3..0dbbc428ff 100644
--- a/interface/wx/bitmap.h
+++ b/interface/wx/bitmap.h
@@ -734,6 +734,10 @@ public:
 
         @remarks The bitmap object owns the mask once this has been called.
 
+        @note A mask can be set also for bitmap with an alpha channel but
+        doing so under wxMSW is not recommended because performance of drawing
+        such bitmap is not very good.
+
         @see GetMask(), wxMask
     */
     virtual void SetMask(wxMask* mask);
@@ -777,6 +781,10 @@ wxBitmap wxNullBitmap;
     When associated with a bitmap and drawn in a device context, the unmasked
     area of the bitmap will be drawn, and the masked area will not be drawn.
 
+    @note A mask can be associated also with a bitmap with an alpha channel
+    but drawing such bitmaps under wxMSW may be slow so using them should be
+    avoided if drawing performance is an important factor.
+
     @library{wxcore}
     @category{gdi}
 
diff --git a/src/msw/bitmap.cpp b/src/msw/bitmap.cpp
index 3ceea0022c..077ae40e83 100644
--- a/src/msw/bitmap.cpp
+++ b/src/msw/bitmap.cpp
@@ -1259,6 +1259,53 @@ void wxBitmap::MSWUpdateAlpha()
 #endif // wxUSE_WXDIB/!wxUSE_WXDIB
 }
 
+void wxBitmap::MSWBlendMaskWithAlpha()
+{
+#if defined(wxHAS_RAW_BITMAP)
+    if ( !HasAlpha() || !GetMask() )
+        return;
+    // Update alpha channel by blending original alpha values with mask and then remove the mask.
+    // For non-masked pixels alpha channel values will remain intact and for masked pixels
+    // they will be set to the transparent value (0).
+    AllocExclusive();
+
+    {
+        wxBitmap bmpMask = GetMask()->GetBitmap();
+        wxNativePixelData maskData(bmpMask);
+        wxCHECK_RET(maskData, "No access to bitmap mask data");
+
+        wxAlphaPixelData bmpData(*this);
+        wxCHECK_RET(bmpData, "No access to bitmap data");
+
+        const int w = GetWidth();
+        const int h = GetHeight();
+
+        wxNativePixelData::Iterator maskRowStart(maskData);
+        wxAlphaPixelData::Iterator bmpRowStart(bmpData);
+        for ( int y = 0; y < h; y++ )
+        {
+            wxNativePixelData::Iterator pMask = maskRowStart;
+            wxAlphaPixelData::Iterator pBmp = bmpRowStart;
+            for ( int x = 0; x < w; x++, ++pBmp, ++pMask )
+            {
+                // Masked pixel is not drawn i.e. is transparent,
+                // non-masked pixel is untouched.
+                if ( pMask.Red() == 0 )
+                {
+                    pBmp.Red() = pBmp.Green() = pBmp.Blue() = 0; // pre-multiplied
+                    pBmp.Alpha() = wxALPHA_TRANSPARENT;
+                }
+            }
+            maskRowStart.OffsetY(maskData, 1);
+            bmpRowStart.OffsetY(bmpData, 1);
+        }
+    }
+    GetBitmapData()->SetMask((wxMask*)NULL);
+    wxASSERT(HasAlpha());
+    wxASSERT(!GetMask());
+#endif // wxHAS_RAW_BITMAP
+}
+
 // ----------------------------------------------------------------------------
 // wxBitmap setters
 // ----------------------------------------------------------------------------
diff --git a/src/msw/dc.cpp b/src/msw/dc.cpp
index 6710f8c2ae..9652af4ccf 100644
--- a/src/msw/dc.cpp
+++ b/src/msw/dc.cpp
@@ -1242,10 +1242,31 @@ void wxMSWDCImpl::DoDrawBitmap( const wxBitmap &bmp, wxCoord x, wxCoord y, bool
 
     if ( bmp.HasAlpha() )
     {
-        MemoryHDC hdcMem;
-        SelectInHDC select(hdcMem, GetHbitmapOf(bmp));
+        // Make a copy in case we would neeed to remove its mask.
+        // If this will not be necessary, the copy is cheap as bitmaps are reference-counted.
+        wxBitmap curBmp(bmp);
 
-        if ( AlphaBlt(this, x, y, width, height, 0, 0, width, height, hdcMem, bmp) )
+        // For bitmap with both alpha channel and mask we have to apply mask on our own
+        // because MaskBlt() API doesn't work properly with 32 bpp RGBA bitmaps.
+        // To do so we will create a temporary bitmap with copy of RGB data and with alpha channel
+        // being a superposition of the original alpha values and the mask - for non-masked pixels
+        // alpha channel values will remain intact and for masked pixels they will be set to the transparent value.
+        if ( curBmp.GetMask() )
+        {
+            if ( useMask )
+            {
+                curBmp.MSWBlendMaskWithAlpha();
+            }
+            else
+            {
+                curBmp.SetMask(NULL);
+            }
+        }
+
+        MemoryHDC hdcMem;
+        SelectInHDC select(hdcMem, GetHbitmapOf(curBmp));
+
+        if ( AlphaBlt(this, x, y, width, height, 0, 0, width, height, hdcMem, curBmp) )
         {
             CalcBoundingBox(x, y);
             CalcBoundingBox(x + bmp.GetWidth(), y + bmp.GetHeight());