A fetch unit (a) fetches a block of instruction data from an instruction cache of the microprocessor; (b) performs an XOR on the block with a data entity to generate plain text instruction data; and (c) provides the plain text instruction data to an instruction decode unit. In a first instance the block comprises encrypted instruction data and the data entity is a decryption key. In a second instance the block comprises unencrypted instruction data and the data entity is Boolean zeroes. The time required to perform (a), (b), and (c) is the same in the first and second instances regardless of whether the block is encrypted or unencrypted. A decryption key generator selects first and second keys from a plurality of keys, rotates the first key, and adds/subtracts the rotated first key to/from the second key, all based on portions of the fetch address, to generate the decryption key.