diff --git a/premake5.lua b/premake5.lua
index b06fd511..6622a100 100644
--- a/premake5.lua
+++ b/premake5.lua
@@ -73,7 +73,10 @@
 		description = "Disable Zlib/Zip 3rd party lib"
 	}
 
-
+	newoption {
+		trigger     = "no-bytecode",
+		description = "Don't embed bytecode, but instead use the stripped souce code."
+	}
 
 --
 -- Define the project. Put the release configuration first so it will be the
diff --git a/scripts/embed.lua b/scripts/embed.lua
index 7e79bf3c..78796780 100644
--- a/scripts/embed.lua
+++ b/scripts/embed.lua
@@ -5,85 +5,102 @@
 -- issues in Mac OS X Universal builds.
 --
 
+	local scriptCount = 0
+
 	local function loadScript(fname)
 		fname = path.getabsolute(fname)
-		local f = io.open(fname)
-		local s = assert(f:read("*a"))
+		local f = io.open(fname, "rb")
+		local s = assert(f:read("*all"))
 		f:close()
+		return s
+	end
 
+
+	local function stripScript(s)
 		-- strip tabs
-		s = s:gsub("[\t]", "")
+		local result = s:gsub("[\t]", "")
 
 		-- strip any CRs
-		s = s:gsub("[\r]", "")
+		result = result:gsub("[\r]", "")
 
 		-- strip out block comments
-		s = s:gsub("[^\"']%-%-%[%[.-%]%]", "")
-		s = s:gsub("[^\"']%-%-%[=%[.-%]=%]", "")
-		s = s:gsub("[^\"']%-%-%[==%[.-%]==%]", "")
+		result = result:gsub("[^\"']%-%-%[%[.-%]%]", "")
+		result = result:gsub("[^\"']%-%-%[=%[.-%]=%]", "")
+		sresult = result:gsub("[^\"']%-%-%[==%[.-%]==%]", "")
 
 		-- strip out inline comments
-		s = s:gsub("\n%-%-[^\n]*", "\n")
-
-		-- escape backslashes
-		s = s:gsub("\\", "\\\\")
+		result = result:gsub("\n%-%-[^\n]*", "\n")
 
 		-- strip duplicate line feeds
-		s = s:gsub("\n+", "\n")
+		result = result:gsub("\n+", "\n")
 
 		-- strip out leading comments
-		s = s:gsub("^%-%-[^\n]*\n", "")
+		result = result:gsub("^%-%-[^\n]*\n", "")
 
-		-- escape line feeds
-		s = s:gsub("\n", "\\n")
-
-		-- escape double quote marks
-		s = s:gsub("\"", "\\\"")
-
- 		return s
+		return result
 	end
 
 
-	local function appendScript(result, contents)
-		-- break up large strings to fit in Visual Studio's string length limit
-		local max = 4096
-		local start = 1
-		local len = contents:len()
-		if len > 0 then
-			while start <= len do
-				local n = len - start
-				if n > max then n = max end
-				local finish = start + n
+	local function outputScript(result, script)
+		local data   = script.data
+		local length = #data
 
-				-- make sure I don't cut an escape sequence
-				while contents:sub(finish, finish) == "\\" do
-					finish = finish - 1
+		if length > 0 then
+			script.table = string.format("builtin_script_%d", scriptCount)
+			scriptCount = scriptCount + 1
+
+			buffered.writeln(result, "// ".. script.name)
+			buffered.writeln(result, "static const unsigned char " .. script.table .. "[] = {")
+
+			for i = 1, length do
+				buffered.write(result, string.format("%3d, ", data:byte(i)))
+				if (i % 32 == 0) then
+					buffered.writeln(result)
 				end
-
-				local s = contents:sub(start, finish)
-				table.insert(result, "\t\"" .. s .. iif(finish < len, '"', '",'))
-
-				start = finish + 1
 			end
-		else
-			table.insert(result, "\t\"\",")
+
+			buffered.writeln(result, "};")
+			buffered.writeln(result)
+		end
+	end
+
+
+	local function addScript(result, filename, name, data)
+		if not data then
+			if not _OPTIONS["no-bytecode"] then
+				verbosef("Compiling... " .. filename)
+				local output = path.replaceextension(filename, ".luac")
+				local res, err = os.compile(filename, output);
+				if res ~= nil then
+					data = loadScript(output)
+					os.remove(output)
+				else
+					print(err)
+					print("Embedding source instead.")
+					data = stripScript(loadScript(filename))
+				end
+			else
+				data = stripScript(loadScript(filename))
+			end
 		end
 
-		table.insert(result, "")
+		local script = {}
+		script.filename = filename
+		script.name     = name
+		script.data     = data
+		table.insert(result, script)
 	end
 
 
-
 -- Prepare the file header
 
-	local result = {}
-	table.insert(result, "/* Premake's Lua scripts, as static data buffers for release mode builds */")
-	table.insert(result, "/* DO NOT EDIT - this file is autogenerated - see BUILD.txt */")
-	table.insert(result, "/* To regenerate this file, run: premake5 embed */")
-	table.insert(result, "")
-	table.insert(result, '#include "premake.h"')
-	table.insert(result, "")
-
+	local result = buffered.new()
+	buffered.writeln(result, "/* Premake's Lua scripts, as static data buffers for release mode builds */")
+	buffered.writeln(result, "/* DO NOT EDIT - this file is autogenerated - see BUILD.txt */")
+	buffered.writeln(result, "/* To regenerate this file, run: premake5 embed */")
+	buffered.writeln(result, "")
+	buffered.writeln(result, '#include "premake.h"')
+	buffered.writeln(result, "")
 
 -- Find all of the _manifest.lua files within the project
 
@@ -96,84 +113,70 @@
 	userModuleFiles = table.join(userModuleFiles, os.matchfiles(path.join(_MAIN_SCRIPT_DIR, "**/_user_modules.lua")))
 	userModuleFiles = table.join(userModuleFiles, os.matchfiles(path.join(_MAIN_SCRIPT_DIR, "_user_modules.lua")))
 
--- Generate an index of the script file names. Script names are stored
--- relative to the directory containing the manifest, i.e. the main
--- Xcode script, which is at $/modules/xcode/xcode.lua is stored as
--- "xcode/xcode.lua".
 
-	table.insert(result, "const char* builtin_scripts_index[] = {")
+-- Generate table of embedded content.
+	local contentTable = {}
 
+	print("Compiling... ")
 	for mi = 1, #manifests do
 		local manifestName = manifests[mi]
-		local manifestDir = path.getdirectory(manifestName)
-		local baseDir = path.getdirectory(manifestDir)
+		local manifestDir  = path.getdirectory(manifestName)
+		local baseDir      = path.getdirectory(manifestDir)
 
 		local files = dofile(manifests[mi])
 		for fi = 1, #files do
 			local filename = path.join(manifestDir, files[fi])
-			filename = path.getrelative(baseDir, filename)
-			table.insert(result, '\t"' .. filename .. '",')
+			addScript(contentTable, filename, path.getrelative(baseDir, filename))
 		end
 	end
 
-	table.insert(result, '\t"src/_premake_main.lua",')
-	table.insert(result, '\t"src/_manifest.lua",')
-	table.insert(result, '\t"src/_modules.lua",')
-	table.insert(result, "\tNULL")
-	table.insert(result, "};")
-	table.insert(result, "")
+	addScript(contentTable, path.join(_SCRIPT_DIR, "../src/_premake_main.lua"), "src/_premake_main.lua")
+	addScript(contentTable, path.join(_SCRIPT_DIR, "../src/_manifest.lua"), "src/_manifest.lua")
 
-
--- Embed the actual script contents
-
-	table.insert(result, "const char* builtin_scripts[] = {")
-
-	for mi = 1, #manifests do
-		local manifestName = manifests[mi]
-		local manifestDir = path.getdirectory(manifestName)
-
-		local files = dofile(manifests[mi])
-		for fi = 1, #files do
-			local filename = path.join(manifestDir, files[fi])
-
-			local scr = loadScript(filename)
-			appendScript(result, scr)
-		end
-	end
-
-	appendScript(result, loadScript(path.join(_SCRIPT_DIR, "../src/_premake_main.lua")))
-	appendScript(result, loadScript(path.join(_SCRIPT_DIR, "../src/_manifest.lua")))
-
--- Write the list of modules
+-- Add the list of modules
 
 	local modules = dofile("../src/_modules.lua")
 	for _, userModules in ipairs(userModuleFiles) do
 		modules = table.join(modules, dofile(userModules))
 	end
-	appendScript(result, "return {" .. table.implode(modules, "\\\"", "\\\"", ",\\n") .. "}")
 
-	table.insert(result, "\tNULL")
-	table.insert(result, "};")
-	table.insert(result, "")
+	addScript(contentTable, "_modules.lua", "src/_modules.lua", "return {" .. table.implode(modules, '"', '"', ', ') .. "}")
 
+-- Embed the actual script contents
+
+	print("Embedding...")
+	for mi = 1, #contentTable do
+		outputScript(result, contentTable[mi])
+	end
+
+-- Generate an index of the script file names. Script names are stored
+-- relative to the directory containing the manifest, i.e. the main
+-- Xcode script, which is at $/modules/xcode/xcode.lua is stored as
+-- "xcode/xcode.lua".
+	buffered.writeln(result, "const buildin_mapping builtin_scripts[] = {")
+
+	for mi = 1, #contentTable do
+		if contentTable[mi].table then
+			buffered.writeln(result, string.format('\t{"%s", %s, sizeof(%s)},', contentTable[mi].name, contentTable[mi].table, contentTable[mi].table))
+		else
+			buffered.writeln(result, string.format('\t{"%s", NULL, 0},', contentTable[mi].name))
+		end
+	end
+
+	buffered.writeln(result, "\t{NULL, NULL, 0}")
+	buffered.writeln(result, "};")
+	buffered.writeln(result, "")
 
 -- Write it all out. Check against the current contents of scripts.c first,
 -- and only overwrite it if there are actual changes.
 
-	result = table.concat(result, "\n")
-
+	print("Writing...")
 	local scriptsFile = path.getabsolute(path.join(_SCRIPT_DIR, "../src/host/scripts.c"))
+	local output = buffered.tostring(result)
 
-	local oldVersion
-	local file = io.open(scriptsFile, "r")
-	if file then
-		oldVersion = file:read("*a")
-		file:close()
-	end
-
-	if oldVersion ~= result then
-		print("Writing scripts.c")
-		file = io.open(scriptsFile, "w+b")
-		file:write(result)
-		file:close()
+	local f, err = os.writefile_ifnotequal(output, scriptsFile);
+	if (f < 0) then
+		error(err, 0)
+	elseif (f > 0) then
+		printf("Generated %s...", path.getrelative(os.getcwd(), scriptsFile))
 	end
diff --git a/src/host/buffered_io.c b/src/host/buffered_io.c
index e60c359e..08bf3838 100644
--- a/src/host/buffered_io.c
+++ b/src/host/buffered_io.c
@@ -66,10 +66,11 @@ int buffered_write(lua_State* L)
 int buffered_writeln(lua_State* L)
 {
 	size_t l;
-	const char *s = luaL_checklstring(L, 2, &l);
+	const char *s = luaL_optlstring(L, 2, NULL, &l);
 	Buffer* b = (Buffer*)lua_touserdata(L, 1);
 
-	do_write(b, s, l);
+	if (s != NULL)
+		do_write(b, s, l);
 	do_write(b, "\r\n", 2);
 	return 0;
 }
diff --git a/src/host/os_compile.c b/src/host/os_compile.c
new file mode 100644
index 00000000..a1958050
--- /dev/null
+++ b/src/host/os_compile.c
@@ -0,0 +1,57 @@
+/**
+ * \file   os_uuid.c
+ * \brief  Create a new UUID.
+ * \author Copyright (c) 2002-2012 Jason Perkins and the Premake project
+ */
+
+#include "premake.h"
+#include "lua/src/lundump.h"
+#include "lua/src/lobject.h"
+#include "lua/src/lstate.h"
+
+extern int original_luaL_loadfile(lua_State* L, const char* filename);
+
+static int writer(lua_State* L, const void* p, size_t size, void* u)
+{
+	UNUSED(L);
+	return (fwrite(p, size, 1, (FILE*)u) != 1) && (size != 0);
+}
+
+int os_compile(lua_State* L)
+{
+	const char* input = luaL_checkstring(L, 1);
+	const char* output = luaL_checkstring(L, 2);
+	lua_State* P = luaL_newstate();
+
+	if (original_luaL_loadfile(P, input) != OKAY)
+	{
+		const char* msg = lua_tostring(P, -1);
+		if (msg == NULL)
+			msg = "(error with no message)";
+
+		lua_pushnil(L);
+		lua_pushfstring(L, "Unable to compile '%s': %s", input, msg);
+
+		lua_close(P);
+		return 2;
+	}
+	else
+	{
+		FILE* outputFile = (output == NULL) ? stdout : fopen(output, "wb");
+		if (outputFile == NULL)
+		{
+			lua_close(P);
+
+			lua_pushnil(L);
+			lua_pushfstring(L, "unable to write to '%s'", output);
+			return 2;
+		}
+
+		lua_dump(P, writer, outputFile);
+		fclose(outputFile);
+
+		lua_close(P);
+		lua_pushboolean(L, 1);
+		return 1;
+	}
+}
diff --git a/src/host/premake.c b/src/host/premake.c
index 88c74d23..e5f23498 100644
--- a/src/host/premake.c
+++ b/src/host/premake.c
@@ -76,6 +76,7 @@ static const luaL_Reg os_functions[] = {
 	{ "stat",                   os_stat                 },
 	{ "uuid",                   os_uuid                 },
 	{ "writefile_ifnotequal",   os_writefile_ifnotequal },
+	{ "compile",                os_compile              },
 	{ NULL, NULL }
 };
 
@@ -306,8 +307,6 @@ int premake_locate_executable(lua_State* L, const char* argv0)
  */
 int premake_test_file(lua_State* L, const char* filename, int searchMask)
 {
-	int i;
-
 	if (searchMask & TEST_LOCAL) {
 		if (do_isfile(filename)) {
 			lua_pushcfunction(L, path_getabsolute);
@@ -329,13 +328,11 @@ int premake_test_file(lua_State* L, const char* filename, int searchMask)
 	#if !defined(PREMAKE_NO_BUILTIN_SCRIPTS)
 	if ((searchMask & TEST_EMBEDDED) != 0) {
 		/* Try to locate a record matching the filename */
-		for (i = 0; builtin_scripts_index[i] != NULL; ++i) {
-			if (strcmp(builtin_scripts_index[i], filename) == 0) {
-				lua_pushstring(L, "$/");
-				lua_pushstring(L, filename);
-				lua_concat(L, 2);
-				return OKAY;
-			}
+		if (premake_find_embedded_script(filename) != NULL) {
+			lua_pushstring(L, "$/");
+			lua_pushstring(L, filename);
+			lua_concat(L, 2);
+			return OKAY;
 		}
 	}
 	#endif
@@ -499,13 +496,13 @@ static int run_premake_main(lua_State* L, const char* script)
  * contents of the file's script.
  */
 
- const char* premake_find_embedded_script(const char* filename)
+ const buildin_mapping* premake_find_embedded_script(const char* filename)
  {
 #if !defined(PREMAKE_NO_BUILTIN_SCRIPTS)
  	int i;
-	for (i = 0; builtin_scripts_index[i] != NULL; ++i) {
-		if (strcmp(builtin_scripts_index[i], filename) == 0) {
-			return builtin_scripts[i];
+	for (i = 0; builtin_scripts[i].name != NULL; ++i) {
+		if (strcmp(builtin_scripts[i].name, filename) == 0) {
+			return builtin_scripts + i;
 		}
 	}
 #endif
@@ -527,7 +524,7 @@ int premake_load_embedded_script(lua_State* L, const char* filename)
 	static int warned = 0;
 #endif
 
-	const char* chunk = premake_find_embedded_script(filename);
+	const buildin_mapping* chunk = premake_find_embedded_script(filename);
 	if (chunk == NULL) {
 		return !OKAY;
 	}
@@ -546,5 +543,5 @@ int premake_load_embedded_script(lua_State* L, const char* filename)
 	lua_concat(L, 2);
 
 	/* Load the chunk */
-	return luaL_loadbuffer(L, chunk, strlen(chunk), filename);
+	return luaL_loadbuffer(L, (const char*)chunk->bytecode, chunk->length, filename);
 }
diff --git a/src/host/premake.h b/src/host/premake.h
index 8b48f021..8f3bee55 100644
--- a/src/host/premake.h
+++ b/src/host/premake.h
@@ -9,7 +9,6 @@
 #include "lauxlib.h"
 #include "lualib.h"
 
-
 /* Identify the current platform I'm not sure how to reliably detect
  * Windows but since it is the most common I use it as the default */
 #if defined(__linux__)
@@ -118,6 +117,7 @@ int os_rmdir(lua_State* L);
 int os_stat(lua_State* L);
 int os_uuid(lua_State* L);
 int os_writefile_ifnotequal(lua_State* L);
+int os_compile(lua_State* L);
 int string_endswith(lua_State* L);
 int string_hash(lua_State* L);
 int string_sha1(lua_State* L);
@@ -138,13 +138,21 @@ int zip_extract(lua_State* L);
 #endif
 
 /* Engine interface */
+
+typedef struct
+{
+	const char*          name;
+	const unsigned char* bytecode;
+	size_t               length;
+} buildin_mapping;
+
+extern const buildin_mapping builtin_scripts[];
+
+
 int premake_init(lua_State* L);
 int premake_execute(lua_State* L, int argc, const char** argv, const char* script);
-const char* premake_find_embedded_script(const char* filename);
 int premake_load_embedded_script(lua_State* L, const char* filename);
+const buildin_mapping* premake_find_embedded_script(const char* filename);
+
 int premake_locate_executable(lua_State* L, const char* argv0);
 int premake_test_file(lua_State* L, const char* filename, int searchMask);
-
-
-extern const char* builtin_scripts_index[];
-extern const char* builtin_scripts[];