Microstructural simulation of mechanical behavior of shape memory alloy samples at cyclic loading in the pseudoelastic state has been carried out. Evolution of the oriented and scattered deformation defects leading to damage accumulation and resulting in the fatigue fracture has been taken into account. Simulations were performed for the regime of loading imitating that for endovascular stents: preliminary straining, unloading, deformation up to some mean level of the strain and subsequent mechanical cycling at specified strain amplitude. Dependence of the fatigue life on the loading parameters (pre-strain, mean and amplitude values of strain) has been obtained. The results show a good agreement with available experimental data.