[CentOS] Problem with latest kernel install

After a simple `yum update` I got the following on reboot.

Could not load /lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No
such file or director
FATAL: Could not load /lib/module.el6.x86_64/modules.dep: No such file
or directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory
FATAL: Could not load
/lib/modules/2.6.32-220.7.1.el6.x86_64/modules.dep: No such file or
directory

What's the best way to resolve this?