diff --git a/libguestfs.spec b/libguestfs.spec
index d57b593..8d05158 100644
--- a/libguestfs.spec
+++ b/libguestfs.spec
@@ -36,7 +36,7 @@
 %endif
 
 # The source directory.
-%global source_directory 1.48-stable
+%global source_directory 1.49-development
 
 # Filter perl provides.
 %{?perl_default_filter}
@@ -47,7 +47,7 @@
 Summary:       Access and modify virtual machine disk images
 Name:          libguestfs
 Epoch:         1
-Version:       1.48.1
+Version:       1.49.1
 Release:       1%{?dist}
 License:       LGPLv2+
 
@@ -1124,6 +1124,9 @@ rm ocaml/html/.gitignore
 
 
 %changelog
+* Thu May 12 2022 Richard W.M. Jones <rjones@redhat.com> - 1:1.49.1-1
+- New upstream development version 1.49.1
+
 * Thu Apr 14 2022 Richard W.M. Jones <rjones@redhat.com> - 1:1.48.1-1
 - New upstream stable branch version 1.48.1
 
diff --git a/sources b/sources
index 6f7bd92..e2caea1 100644
--- a/sources
+++ b/sources
@@ -1,2 +1,2 @@
-SHA512 (libguestfs-1.48.1.tar.gz) = 34cad3cb9ebfe2d6294fda8eede873470d75aad2eadc5b245556122a3e09b5d51fc012c0144997b66070feb97fe9613f0f9328a973c30839dae74f446a4a4b3c
-SHA512 (libguestfs-1.48.1.tar.gz.sig) = 2addd2767237cc5e00031b68d50d50e0ac6f1da570aefd6e2bba76e919d10f3648802b113bfe99efe9e8c336e96bf6e6e179731d686b09cb5f4bf29f4790ffc0
+SHA512 (libguestfs-1.49.1.tar.gz) = fa8384865adc2e5f9651e835ebbe0e2c6945bea2dc83c7a639900a2b54bc4fda08363d9f60a5b12a7ce66298215e73fee2fbc8e8e209361f99906f6536a0a1ce
+SHA512 (libguestfs-1.49.1.tar.gz.sig) = 4dee1738166b9afe41d42fbaf40c68832d1d99330c4f314585d14e69f7d6e3036e6bd856a3915a9437d4593dca098b042a29b3bc3e44f9be73fba9a744b55c39