diff -r 442c0cb8287a -r a60963c02f92 mercurial/subrepo.py
--- a/mercurial/subrepo.py	Fri Mar 29 19:52:02 2013 -0700
+++ b/mercurial/subrepo.py	Fri Mar 29 19:54:06 2013 -0700
@@ -547,9 +547,10 @@
             else:
                 self._repo.ui.status(_('pulling subrepo %s from %s\n')
                                      % (subrelpath(self), srcurl))
+                remotebookmarks = other.listkeys('bookmarks')
                 self._repo.pull(other)
-                bookmarks.updatefromremote(self._repo.ui, self._repo, other,
-                                           srcurl)
+                bookmarks.updatefromremote(self._repo.ui, self._repo,
+                                           remotebookmarks, srcurl)
 
     @annotatesubrepoerror
     def get(self, state, overwrite=False):