Helgi tried to lie about where he had been coming from but she knew he was lying, because she had been watching him closely. Their ways part after this.

Sigrun hears that her father has promised Hodbroddur Granmarsson that she will become his wife. She goes to Helgi, who has just killed the sons of Hundingur. Helgi gathers a team to fight Hodbroddur. In this battle Hodbroddur, his brothers, Sigrun's father (Hogni) and one of Sigrun's brothers (Bragi) are killed but Helgi lets Dagur (Sigrun's other brother) live. Helgi and Sigrun get married and have sons.

Dagur swore to Odin that he would avenge his father's death, therefore Odin lent Dagur his spear to do the job. When the job is done Dagur tells Sigrun what he has done. Sigrun wished that all the promises Dagur made to Helgi would turn against him.

Sigrun meets Helgi (who has come back from the dead) by his grave and they spend one night together. The night after that Sigrun goes to the grave again but Helgi doesn't come. Soon after that Sigrun dies from grief and that is the end of the Lay of Helgi the Hundingsbani II.