diff -r 442c0cb8287a -r a60963c02f92 mercurial/commands.py
--- a/mercurial/commands.py	Fri Mar 29 19:52:02 2013 -0700
+++ b/mercurial/commands.py	Fri Mar 29 19:54:06 2013 -0700
@@ -4496,10 +4496,11 @@
     ui.status(_('pulling from %s\n') % util.hidepassword(source))
     revs, checkout = hg.addbranchrevs(repo, other, branches, opts.get('rev'))
 
+    remotebookmarks = other.listkeys('bookmarks')
+
     if opts.get('bookmark'):
         if not revs:
             revs = []
-        remotebookmarks = other.listkeys('bookmarks')
         for b in opts['bookmark']:
             if b not in remotebookmarks:
                 raise util.Abort(_('remote bookmark %s not found!') % b)
@@ -4514,7 +4515,7 @@
             raise util.Abort(err)
 
     modheads = repo.pull(other, heads=revs, force=opts.get('force'))
-    bookmarks.updatefromremote(ui, repo, other, source)
+    bookmarks.updatefromremote(ui, repo, remotebookmarks, source)
     if checkout:
         checkout = str(repo.changelog.rev(other.lookup(checkout)))
     repo._subtoppath = source