The morphology of atomically stepped hillocks formed during homoepitaxial growth on Ag(111) is analysed by SPALEED in the deposition range of 0-20 monolayers (ML). At 220 K the inclination of the facets increases linearly with coverage, with the terrace widths being correspondingly reduced. Facets with (100)-like steps are preferred over those containing (111)-like steps resulting in a more triangular shape of the hillocks. At room temperature the hexagonally shaped hillocks are larger owing to enhanced terrace widths. Moreover, the beginning interlayer diffusion limits the height of the hillocks to approximately 10 layers effecting a much slower reduction of the terrace widths after deposition of 3.7 ML.