Oh, Liz Phair, you constant tease. You went all-Avril on us a few years back, defending your bid for pop-radio recognition with a reality check: Being an indie darling doesn’t quite fill baby’s college fund. So cashing in your cred was a understandable, if fan-alienating move; everyone knows corporate gigs that pay the really big bucks (even if we’re too cool to cop to the fact).

I was in the minority of “pure Phair” fans, since I didn’t entirely mind The Matrix makeover. I found lots to like on Phair’s eponymous disc (“Red Light Fever,” for instance). Many did, since the self-titled LP sold close to 500,000 copies. Still, how many romantic-comedy trailers featuring “Why Can’t I” can one man stand?

Well, after a disappointing reception to the follow-up, Somebody’s Miracle, Phair finds herself in need of nothing short of one. So she’s restarting by revisiting her indie roots, signing with ATO Records. First up, an expanded edition of her 1993 debut, Exile In Guyville, out June 24. The set appends four previously unreleased tracks and a DVD documentary about the album.

Phair recently sat down for a chat with Billboard magazine about the upcoming Guyville reissue. “I wanted to bring that moment back to life,” she says, “and it was also a good way for me to establish my independence.” Working on a new studio album, tentatively expected in the fall, Phair says she happy to no longer be “stuck in the major system.”

So, if only for today, Cinco de Mayo, let’s celebrate the return of low-fi Liz by cueing up an appropriately-dated ditty from her second LP, Whip-Smart. Her song, not endless pitchers of margaritas, springs to my mind when May 5th rolls around every year. Hear here:

Buena suerte, Liz!