--- a/mercurial/commands.py
+++ b/mercurial/commands.py
@@ -766,9 +766,12 @@ def backout(ui, repo, rev, **opts):
 def bundle(ui, repo, fname, dest=None, **opts):
     """create a changegroup file
 
-    Generate a compressed changegroup file collecting all changesets
+    Generate a compressed changegroup file collecting changesets.
     not found in the other repository.
 
+    If no destination repository is specified the destination is
+    assumed to have all the node specified by --base.
+
     This file can then be transferred using conventional means and
     applied to another repository with the unbundle command. This is
     useful when native push and pull are not available or when
@@ -778,11 +781,34 @@ def bundle(ui, repo, fname, dest=None, *
     Unlike import/export, this exactly preserves all changeset
     contents including permissions, rename data, and revision history.
     """
-    dest = ui.expandpath(dest or 'default-push', dest or 'default')
-    setremoteconfig(ui, opts)
-    other = hg.repository(ui, dest)
-    o = repo.findoutgoing(other, force=opts['force'])
-    cg = repo.changegroup(o, 'bundle')
+    revs = opts.get('rev') or None
+    if revs:
+        revs = [repo.lookup(rev) for rev in revs]
+    base = opts.get('base')
+    if base:
+        if dest:
+            raise util.Abort(_("--base is incompatible with specifiying "
+                               "a destination"))
+        o = []
+        for n in base:
+            o.extend(repo.changelog.children(repo.lookup(n)))
+        # add common ancestor
+        if revs:
+            all = o + revs
+        else:
+            all = o + repo.changelog.heads()
+        ancestor = reduce(lambda a, b: repo.changelog.ancestor(a, b), all)
+        o.append(ancestor)
+    else:
+        setremoteconfig(ui, opts)
+        dest = ui.expandpath(dest or 'default-push', dest or 'default')
+        other = hg.repository(ui, dest)
+        o = repo.findoutgoing(other, force=opts['force'])
+
+    if revs:
+        cg = repo.changegroupsubset(o, revs, 'bundle')
+    else:
+        cg = repo.changegroup(o, 'bundle')
     write_bundle(cg, fname)
 
 def cat(ui, repo, file1, *pats, **opts):
@@ -2789,8 +2815,12 @@ table = {
         (bundle,
          [('f', 'force', None,
            _('run even when remote repository is unrelated')),
+          ('r', 'rev', [],
+           _('a changeset you would like to bundle')),
+          ('', 'base', [],
+           _('a base changeset to specify instead of a destination')),
          ] + remoteopts,
-         _('hg bundle FILE DEST')),
+         _('hg bundle [--base REV]... [--rev REV]... FILE [DEST]')),
     "cat":
         (cat,
          [('o', 'output', '', _('print output to file with formatted name')),