Index: wp-includes/js/media-editor.js
===================================================================
--- wp-includes/js/media-editor.js	(revision 22861)
+++ wp-includes/js/media-editor.js	(working copy)
@@ -489,6 +489,12 @@
 
 				workflow = wp.media.editor.get( editor );
 
+				// 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, just open it.
 				if ( workflow ) {
 					workflow.open();
@@ -502,4 +508,4 @@
 	};
 
 	$( wp.media.editor.init );
-}(jQuery));
\ No newline at end of file
+}(jQuery));