A liquid flow through a channel is studied based on the Orr-Sommerfeld eigenvalue problem, where the lower wall of the channel is occupied by the saturated poroelastic medium. The linear stability analysis is investigated in detail for arbitrary value of the wavenumber. The eigenvalues are computed numerically by using the Chebyshev spectral collocation method. The effect of physical parameters, for instance, permeability, elasticity as well as their combined effect on the unstable modes are examined.