diff --git a/python/openapi/src/com/jetbrains/python/packaging/PyPackage.java b/python/openapi/src/com/jetbrains/python/packaging/PyPackage.java
index 9c51750d0431..d73f1cb61172 100644
--- a/python/openapi/src/com/jetbrains/python/packaging/PyPackage.java
+++ b/python/openapi/src/com/jetbrains/python/packaging/PyPackage.java
@@ -19,11 +19,6 @@ public class PyPackage extends InstalledPackage {
     myRequirements = requirements;
   }
 
-  @Override
-  public String toString() {
-    return getName();
-  }
-
   @NotNull
   public List<PyRequirement> getRequirements() {
     return myRequirements;
@@ -37,4 +32,10 @@ public class PyPackage extends InstalledPackage {
   public boolean isInstalled() {
     return myLocation != null;
   }
+
+  @Nullable
+  @Override
+  public String getTooltipText() {
+    return myLocation;
+  }
 }
diff --git a/python/src/com/jetbrains/python/packaging/PyPIPackageUtil.java b/python/src/com/jetbrains/python/packaging/PyPIPackageUtil.java
index b590a8a2f0e5..42fed5b535cc 100644
--- a/python/src/com/jetbrains/python/packaging/PyPIPackageUtil.java
+++ b/python/src/com/jetbrains/python/packaging/PyPIPackageUtil.java
@@ -243,14 +243,19 @@ public class PyPIPackageUtil {
   }
 
   public Collection<String> getPackageNames() throws IOException {
+    Map<String, String> pyPIPackages = loadAndGetPackages();
+    ArrayList<String> list = Lists.newArrayList(pyPIPackages.keySet());
+    Collections.sort(list);
+    return list;
+  }
+
+  public Map<String, String> loadAndGetPackages() throws IOException {
     Map<String, String> pyPIPackages = getPyPIPackages();
     if (pyPIPackages.isEmpty()) {
       updatePyPICache(PyPackageService.getInstance());
       pyPIPackages = getPyPIPackages();
     }
-    ArrayList<String> list = Lists.newArrayList(pyPIPackages.keySet());
-    Collections.sort(list);
-    return list;
+    return pyPIPackages;
   }
 
   public static Map<String, String> getPyPIPackages() {
diff --git a/python/src/com/jetbrains/python/packaging/ui/InstalledPackagesPanel.java b/python/src/com/jetbrains/python/packaging/ui/InstalledPackagesPanel.java
index 04c0f5a4d935..a4aa10d30b02 100644
--- a/python/src/com/jetbrains/python/packaging/ui/InstalledPackagesPanel.java
+++ b/python/src/com/jetbrains/python/packaging/ui/InstalledPackagesPanel.java
@@ -150,7 +150,7 @@ public class InstalledPackagesPanel extends JPanel {
                                                                     @Nullable String errorDescription) {
                                         myNotificationArea.showResult(packageName, errorDescription);
                                         myPackagesTable.clearSelection();
-                                        doUpdatePackages(mySelectedSdk);
+                                        doUpdatePackages(myPackageManagementService);
                                       }
                                     });
   }
@@ -337,39 +337,40 @@ public class InstalledPackagesPanel extends JPanel {
     myPackageManagementService = packageManagementService;
     myPackagesTable.clearSelection();
     myPackagesTableModel.getDataVector().clear();
-    doUpdatePackages(selectedSdk);
+    doUpdatePackages(packageManagementService);
   }
 
-  public void doUpdatePackages(final Sdk selectedSdk) {
+  public void doUpdatePackages(final PackageManagementService packageManagementService) {
     myPackagesTable.setPaintBusy(true);
     final Application application = ApplicationManager.getApplication();
     application.executeOnPooledThread(new Runnable() {
       @Override
       public void run() {
-        List<PyPackage> packages = Lists.newArrayList();
-        if (selectedSdk != null) {
+        Collection<InstalledPackage> packages = Lists.newArrayList();
+        if (packageManagementService != null) {
           try {
-            packages = ((PyPackageManagerImpl)PyPackageManager.getInstance(selectedSdk)).getPackages();
+            packages = packageManagementService.getInstalledPackages();
           }
-          catch (PyExternalProcessException e) {
+          catch (IOException e) {
             // do nothing, we already have an empty list
           }
           finally {
-            final List<PyPackage> finalPackages = packages;
-            final Map<String, String> cache = PyPIPackageUtil.getPyPIPackages();
+            final Collection<InstalledPackage> finalPackages = packages;
+
+            final Map<String, RepoPackage> cache = buildNameToPackageMap(packageManagementService.getAllPackagesCached());
             if (cache.isEmpty()) {
-              updateCache(application);
+              refreshLatestVersions();
             }
             application.invokeLater(new Runnable() {
               @Override
               public void run() {
-
-                if (selectedSdk == mySelectedSdk) {
+                if (packageManagementService == myPackageManagementService) {
                   myPackagesTableModel.getDataVector().clear();
-                  for (PyPackage pyPackage : finalPackages) {
-                    final String version = cache.get(pyPackage.getName());
+                  for (InstalledPackage pkg : finalPackages) {
+                    RepoPackage repoPackage = cache.get(pkg.getName());
+                    final String version = repoPackage != null ? repoPackage.getLatestVersion() : null;
                     myPackagesTableModel
-                      .addRow(new Object[]{pyPackage, pyPackage.getVersion(), version == null ? "" : version});
+                      .addRow(new Object[]{pkg, pkg.getVersion(), version == null ? "" : version});
                   }
                   if (!cache.isEmpty()) {
                     myPackagesTable.setPaintBusy(false);
@@ -383,20 +384,21 @@ public class InstalledPackagesPanel extends JPanel {
     });
   }
 
-  private void updateCache(final Application application) {
+  private void refreshLatestVersions() {
+    final Application application = ApplicationManager.getApplication();
     application.executeOnPooledThread(new Runnable() {
       @Override
       public void run() {
         try {
-          PyPIPackageUtil.INSTANCE.updatePyPICache(PyPackageService.getInstance());
+          List<RepoPackage> packages = myPackageManagementService.reloadAllPackages();
+          final Map<String, RepoPackage> packageMap = buildNameToPackageMap(packages);
           application.invokeLater(new Runnable() {
             @Override
             public void run() {
-              final Map<String, String> cache = PyPIPackageUtil.getPyPIPackages();
               for (int i = 0; i != myPackagesTableModel.getRowCount(); ++i) {
-                final PyPackage pyPackage = (PyPackage)myPackagesTableModel.getValueAt(i, 0);
-                final String version = cache.get(pyPackage.getName());
-                myPackagesTableModel.setValueAt(version, i, 2);
+                final InstalledPackage pyPackage = (PyPackage)myPackagesTableModel.getValueAt(i, 0);
+                final RepoPackage repoPackage = packageMap.get(pyPackage.getName());
+                myPackagesTableModel.setValueAt(repoPackage == null ? null : repoPackage.getLatestVersion(), i, 2);
               }
               myPackagesTable.setPaintBusy(false);
             }
@@ -409,6 +411,14 @@ public class InstalledPackagesPanel extends JPanel {
     });
   }
 
+  private static Map<String, RepoPackage> buildNameToPackageMap(List<RepoPackage> packages) {
+    final Map<String, RepoPackage> packageMap = new HashMap<String, RepoPackage>();
+    for (RepoPackage aPackage : packages) {
+      packageMap.put(aPackage.getName(), aPackage);
+    }
+    return packageMap;
+  }
+
   private static class MyTableCellRenderer extends DefaultTableCellRenderer {
     @Override
     public Component getTableCellRendererComponent(final JTable table, final Object value, final boolean isSelected,
diff --git a/python/src/com/jetbrains/python/packaging/ui/PyPackageManagementService.java b/python/src/com/jetbrains/python/packaging/ui/PyPackageManagementService.java
index 1174a936e50d..e741dd809480 100644
--- a/python/src/com/jetbrains/python/packaging/ui/PyPackageManagementService.java
+++ b/python/src/com/jetbrains/python/packaging/ui/PyPackageManagementService.java
@@ -54,23 +54,41 @@ public class PyPackageManagementService extends PackageManagementService {
 
   @Override
   public List<RepoPackage> getAllPackages() throws IOException {
-    List<RepoPackage> packages = new ArrayList<RepoPackage>();
-    final Collection<String> packageNames;
+    final Map<String, String> packageToVersionMap;
     try {
-      packageNames = PyPIPackageUtil.INSTANCE.getPackageNames();
+      packageToVersionMap = PyPIPackageUtil.INSTANCE.loadAndGetPackages();
     }
     catch (IOException e) {
       throw new IOException("Could not reach URL " + e.getMessage() + ". Please, check your internet connection.");
     }
-    final boolean customRepoConfigured = !PyPackageService.getInstance().additionalRepositories.isEmpty();
-    String url = customRepoConfigured? PyPIPackageUtil.PYPI_URL : "";
-    for (String name : packageNames) {
-      packages.add(new RepoPackage(name, url));
-    }
+    List<RepoPackage> packages = versionMapToPackageList(packageToVersionMap);
     packages.addAll(PyPIPackageUtil.INSTANCE.getAdditionalPackageNames());
     return packages;
   }
 
+  private static List<RepoPackage> versionMapToPackageList(Map<String, String> packageToVersionMap) {
+    final boolean customRepoConfigured = !PyPackageService.getInstance().additionalRepositories.isEmpty();
+    String url = customRepoConfigured? PyPIPackageUtil.PYPI_URL : "";
+    List<RepoPackage> packages = new ArrayList<RepoPackage>();
+    for (Map.Entry<String, String> entry : packageToVersionMap.entrySet()) {
+      packages.add(new RepoPackage(entry.getKey(), url, entry.getValue()));
+    }
+    return packages;
+  }
+
+  @Override
+  public List<RepoPackage> reloadAllPackages() throws IOException {
+    final PyPackageService service = PyPackageService.getInstance();
+    PyPIPackageUtil.INSTANCE.updatePyPICache(service);
+    service.LAST_TIME_CHECKED = System.currentTimeMillis();
+    return getAllPackages();
+  }
+
+  @Override
+  public List<RepoPackage> getAllPackagesCached() {
+    return versionMapToPackageList(PyPIPackageUtil.getPyPIPackages());
+  }
+
   @Override
   public boolean canInstallToUser() {
     return !PythonSdkType.isVirtualEnv(mySdk);
@@ -94,14 +112,6 @@ public class PyPackageManagementService extends PackageManagementService {
     PyPackageService.getInstance().addSdkToUserSite(mySdk.getHomePath(), newValue);
   }
 
-  @Override
-  public List<RepoPackage> reloadAllPackages() throws IOException {
-    final PyPackageService service = PyPackageService.getInstance();
-    PyPIPackageUtil.INSTANCE.updatePyPICache(service);
-    service.LAST_TIME_CHECKED = System.currentTimeMillis();
-    return getAllPackages();
-  }
-
   @Override
   public Collection<InstalledPackage> getInstalledPackages() throws IOException {
     List<PyPackage> packages;