diff --git a/lib/jekyll/url.rb b/lib/jekyll/url.rb
index 777ae3d1..5adf2468 100644
--- a/lib/jekyll/url.rb
+++ b/lib/jekyll/url.rb
@@ -37,15 +37,29 @@ module Jekyll
     #
     # Returns the String URL
     def to_s
-      sanitize_url(@permalink || generate_url)
+      sanitize_url(generated_permalink || generated_url)
+    end
+
+    # Generates a URL from the permalink
+    #
+    # Returns the _unsanitized String URL
+    def generated_permalink
+      (@generated_permlink ||= generate_url(@permalink)) if @permalink
+    end
+
+    # Generates a URL from the template
+    #
+    # Returns the _unsanitized String URL
+    def generated_url
+      @generated_url ||= generate_url(@template)
     end
 
     # Internal: Generate the URL by replacing all placeholders with their
-    # respective values
+    # respective values in the given template
     #
     # Returns the _unsanitizied_ String URL
-    def generate_url
-      @placeholders.inject(@template) do |result, token|
+    def generate_url(template)
+      @placeholders.inject(template) do |result, token|
         break result if result.index(':').nil?
         result.gsub(/:#{token.first}/, self.class.escape_path(token.last))
       end
diff --git a/test/test_url.rb b/test/test_url.rb
index dcbe8bed..15f989d8 100644
--- a/test/test_url.rb
+++ b/test/test_url.rb
@@ -23,7 +23,7 @@ class TestURL < Test::Unit::TestCase
       ).to_s
     end
 
-    should "return permalink if given" do
+    should "use permalink if given" do
       assert_equal "/le/perma/link", URL.new(
         :template => "/:x/:y",
         :placeholders => {:x => "foo", :y => "bar"},
@@ -31,5 +31,21 @@ class TestURL < Test::Unit::TestCase
       ).to_s
     end
 
+    should "replace placeholders in permalinks" do
+      assert_equal "/foo/bar", URL.new(
+        :template => "/baz",
+        :permalink => "/:x/:y",
+        :placeholders => {:x => "foo", :y => "bar"}
+      ).to_s
+    end
+
+    should "handle multiple of the same key in the permalink" do
+      assert_equal '/foo/bar/foo/', URL.new(
+        :template => "/baz",
+        :permalink => "/:x/:y/:x/",
+        :placeholders => {:x => "foo", :y => "bar"}
+      ).to_s
+    end
+
   end
 end