diff --git a/script/bump-version.py b/script/bump-version.py
index 4db30b71fca9..642002954c5d 100755
--- a/script/bump-version.py
+++ b/script/bump-version.py
@@ -3,6 +3,7 @@
 import os
 import re
 import sys
+import argparse
 
 from lib.util import execute, get_electron_version, parse_version, scoped_cwd
 
@@ -11,28 +12,46 @@ SOURCE_ROOT = os.path.abspath(os.path.dirname(os.path.dirname(__file__)))
 
 
 def main():
-  if len(sys.argv) != 2 or sys.argv[1] == '-h':
-    print 'Usage: bump-version.py [<version> | major | minor | patch]'
+
+  parser = argparse.ArgumentParser(description='Bump version numbers. Must specify at least one option.')
+  parser.add_argument('--version', default=None, dest='new_version', help='new version number')
+  parser.add_argument('--bump', action='store', dest='bump', default=None, help='increment [major | minor | patch | beta]')
+  parser.add_argument('--stable', action='store_true', default= False, dest='stable', help='promote to stable')
+
+  args = parser.parse_args()
+
+  if args.new_version == None and args.bump == None and args.stable == False:
+    parser.print_help()
     return 1
 
-  option = sys.argv[1]
-  increments = ['major', 'minor', 'patch', 'build']
-  if option in increments:
-    version = get_electron_version()
-    versions = parse_version(version.split('-')[0])
-    versions = increase_version(versions, increments.index(option))
-  else:
-    versions = parse_version(option)
+  increments = ['major', 'minor', 'patch', 'beta']
+  
+  curr_version = get_electron_version()
+  versions = parse_version(re.sub('-beta', '', curr_version))
+  
+  if args.bump in increments:
+    versions = increase_version(versions, increments.index(args.bump))
+    if versions[3] == '0':
+      # beta starts at 1
+      versions = increase_version(versions, increments.index('beta'))
+
+  if args.stable == True:
+    versions[3] = '0'
+
+  if args.new_version != None:
+    versions = parse_version(re.sub('-beta', '', args.new_version))
 
   version = '.'.join(versions[:3])
+  suffix = '' if versions[3] == '0' else '-beta.' + versions[3]
+
 
   with scoped_cwd(SOURCE_ROOT):
-    update_electron_gyp(version)
+    update_electron_gyp(version, suffix)
     update_win_rc(version, versions)
     update_version_h(versions)
     update_info_plist(version)
-    update_package_json(version)
-    tag_version(version)
+    update_package_json(version, suffix)
+    tag_version(version, suffix)
 
 
 def increase_version(versions, index):
@@ -42,14 +61,14 @@ def increase_version(versions, index):
   return versions
 
 
-def update_electron_gyp(version):
-  pattern = re.compile(" *'version%' *: *'[0-9.]+'")
+def update_electron_gyp(version, suffix):
+  pattern = re.compile(" *'version%' *: *'[0-9.]+(-beta[0-9.]*)?'")
   with open('electron.gyp', 'r') as f:
     lines = f.readlines()
 
   for i in range(0, len(lines)):
     if pattern.match(lines[i]):
-      lines[i] = "    'version%': '{0}',\n".format(version)
+      lines[i] = "    'version%': '{0}',\n".format(version + suffix)
       with open('electron.gyp', 'w') as f:
         f.write(''.join(lines))
       return
@@ -114,7 +133,7 @@ def update_info_plist(version):
     f.write(''.join(lines))
 
 
-def update_package_json(version):
+def update_package_json(version, suffix):
   package_json = 'package.json'
   with open(package_json, 'r') as f:
     lines = f.readlines()
@@ -122,15 +141,15 @@ def update_package_json(version):
   for i in range(0, len(lines)):
     line = lines[i];
     if 'version' in line:
-      lines[i] = '  "version": "{0}",\n'.format(version)
+      lines[i] = '  "version": "{0}",\n'.format(version + suffix)
       break
 
   with open(package_json, 'w') as f:
     f.write(''.join(lines))
 
 
-def tag_version(version):
-  execute(['git', 'commit', '-a', '-m', 'Bump v{0}'.format(version)])
+def tag_version(version, suffix):
+  execute(['git', 'commit', '-a', '-m', 'Bump v{0}'.format(version + suffix)])
 
 
 if __name__ == '__main__':