Same problem in LDAX a few lines down.
Another typo in m8080.v:
// the illegal opcodes behave as NOPs 6'b001011, 6'b011001, 6'b011101, 6'b101101, 6'b111101: begin state <= `cpus_fetchi; // fetch next instruction pc <= pc + 2'b10; // Next instruction byte, cns 2 end
The PC is incremented wrong.