A memory module performs a memory readiness test, and reports results to a host system. The memory module initializes a status register with an initial ready time value and a memory readiness status. The memory module conducts the memory readiness test, and while conducting the memory readiness test, estimates a new ready time based on the progress of the memory readiness test. The memory module updates the ready time value in the status register based on the new ready time. After finishing the memory readiness test, the memory module updates the memory readiness status in the status register.