Excel 2007 XML export seems limited by row count

If I make a new XLSX format file, fill a couple columns of data beyond 65536
(2^16) rows, map it using a simple XSD, and use the XML export feature under
the Development Tab, I seem to be limited to 65536 rows.

For example, if my data is exactly 65536 rows of data, I will get an XML
document resulting in those 65536 records.

However, if I try to export 65537 rows, my resulting XML document will only
have data for row 1 (two more over 65536 and I get the first two rows, and so
on).

Excel 2007 supports 2^20 (over a million) rows of data, but appears to be
limited to 2^16 rows for XML export. Is there something I am doing
incorrectly? Is there a fix to this that does not involve using multiple
work sheets?