diff --git a/gradle/kotlinx.versions.toml b/gradle/kotlinx.versions.toml
index 8cdcc3d20..96f9677d3 100644
--- a/gradle/kotlinx.versions.toml
+++ b/gradle/kotlinx.versions.toml
@@ -1,9 +1,7 @@
 [versions]
 kotlin_version = "1.8.22"
-# TODO: 1.4.1 introduces an issue with cached serializers; see https://github.com/Kotlin/kotlinx.serialization/issues/2065
-# TODO: 1.5.0 introduces ExceptionInInitializerError crashes
-serialization_version = "1.4.0"
-xml_serialization_version = "0.86.0"
+serialization_version = "1.5.1"
+xml_serialization_version = "0.86.1"
 
 [libraries]
 reflect = { module = "org.jetbrains.kotlin:kotlin-reflect", version.ref = "kotlin_version" }