Herein, the long‐term stability of vacuum‐deposited methylammonium lead iodide (MAPbI3) perovskite solar cells (PSCs) with power conversion efficiencies (PCEs) of around 19% is evaluated. A low‐temperature atomic layer deposition (ALD) Al2O3 coating is developed and used to protect the MAPbI3 layers and the solar cells from environmental agents. The ALD encapsulation enables the MAPbI3 to be exposed to temperatures as high as 150 °C for several hours without change in color. It also improves the thermal stability of the solar cells, which maintain 80% of the initial PCEs after aging for ≈40 and 37 days at 65 and 85 °C, respectively. However, room‐temperature operation of the solar cells under 1 sun illumination leads to a loss of 20% of their initial PCE in 230 h. Due to the very thin ALD Al2O3 encapsulation, X‐ray diffraction can be performed on the MAPbI3 films and completed solar cells before and after the different stress conditions. Surprisingly, it is found that the main effect of light soaking and thermal stress is a crystal reorientation with respect to the substrate from (002) to (202) of the perovskite layer, and that this reorientation is accelerated under illumination.