diff --git a/configure.ac b/configure.ac
index 0ff6cfba..2175572c 100644
--- a/configure.ac
+++ b/configure.ac
@@ -12,7 +12,7 @@
 #
 
 AC_PREREQ(2.2)
-AC_INIT([libxo], [0.4.7], [phil@juniper.net])
+AC_INIT([libxo], [0.5.0], [phil@juniper.net])
 AM_INIT_AUTOMAKE([-Wall -Werror foreign -Wno-portability])
 
 # Support silent build rules.  Requires at least automake-1.11.