diff --git a/configure.ac b/configure.ac
index 909b996..3f25f06 100644
--- a/configure.ac
+++ b/configure.ac
@@ -2,7 +2,7 @@ dnl Process this file with autoconf to create configure.
 
 AC_PREREQ([2.60])
 
-AC_INIT([virglrenderer], [0.4.1],
+AC_INIT([virglrenderer], [0.5.0],
     [virglrenderer-devel@lists.freedesktop.org])
 AC_CONFIG_SRCDIR([Makefile.am])
 AC_CONFIG_HEADERS([config.h])