Index: wp-includes/js/media-editor.js
===================================================================
--- wp-includes/js/media-editor.js	(revision 22875)
+++ wp-includes/js/media-editor.js	(working copy)
@@ -503,6 +503,12 @@
 
 			workflow = wp.media.editor.get( id );
 
+			// Save a bookmark of the caret position, needed for IE
+			if ( typeof(tinymce) != 'undefined' && tinymce.activeEditor ) {
+				if ( tinymce.isIE && ! tinymce.activeEditor.isHidden() )
+					tinymce.activeEditor.windowManager.insertimagebookmark = tinymce.activeEditor.selection.getBookmark();
+			}
+
 			// If the workflow exists, open it.
 			// Initialize the editor's workflow if we haven't yet.
 			if ( workflow )