diff --git a/.gitignore b/.gitignore
index 1ff89c8..eddf2d4 100644
--- a/.gitignore
+++ b/.gitignore
@@ -275,3 +275,6 @@
 /nmstate-2.2.48.tar.gz
 /nmstate-2.2.48.tar.gz.asc
 /nmstate-vendor-2.2.48.tar.xz
+/nmstate-2.2.49.tar.gz
+/nmstate-2.2.49.tar.gz.asc
+/nmstate-vendor-2.2.49.tar.xz
diff --git a/nmstate.spec b/nmstate.spec
index a2ad458..d2de3a8 100644
--- a/nmstate.spec
+++ b/nmstate.spec
@@ -3,7 +3,7 @@
 %define libname libnmstate
 
 Name:           nmstate
-Version:        2.2.48
+Version:        2.2.49
 Release:        1%{?dist}
 Summary:        Declarative network manager API
 License:        LGPLv2+
@@ -143,6 +143,11 @@ popd
 /sbin/ldconfig
 
 %changelog
+* Tue Aug 5 2025 Rahul Rajesh <rrajesh@redhat.com> - 2.2.49-1
+- Upgrade to 2.2.49
+- Ignore desired MAC for bonds with fail_over_mac. RHEL-107526
+- Fix setting DNS only with search or option. RHEL-104797
+
 * Sat Jul 12 2025 Gris Ge <fge@redhat.com> - 2.2.48-1
 - Upgrade to 2.2.48
 - Validate OVN bridge mapping. RHEL-85787
diff --git a/sources b/sources
index 952177a..a154339 100644
--- a/sources
+++ b/sources
@@ -1,4 +1,4 @@
-SHA512 (nmstate-2.2.48.tar.gz) = 56b6810abb9ebbc1d98b8428f85367fc24748551d78963c4fab48a896e1cc656927c0eee102a218a519f4eb557e2e435a50a9745c393d8b2644d7a88fca5606e
-SHA512 (nmstate-2.2.48.tar.gz.asc) = 8527ea6d8e816d556eb9702a3fdcf02fda0ceb72a6439e4cc3015f934074addcaa437e701841c111699b9e800c16c4797f2e376cbb9dd4a73bb0eef1a0daa5a6
+SHA512 (nmstate-2.2.49.tar.gz) = 6ae7504f6b95740faa52db0fbf93f518e58884f51c29277c28eb2472d77c44de8aa916eb32205341627640d04d6fe0bd387ab8bef906bc950560139e2a926d9f
+SHA512 (nmstate-2.2.49.tar.gz.asc) = 0ae41fb6486df49ea4f954eaa73a17085bb100928fa82aa46602f5ab701cd7816159777643af6b32bb59f91b601cc8ef1b3cbddd4914d8afec9eac152c10dca4
 SHA512 (nmstate.gpg) = e465239bc2a037457c5cb105f69cb033c092708285689f906b5e40cae01e12629bec1cdee7eb6aa3a327e4fc93dfd5ce0e006b295fe5ced8df039f9098cef0bc
-SHA512 (nmstate-vendor-2.2.48.tar.xz) = f646d16b757694f561084a9161562fe36aee34b9f08f15da884ab588030b6f77c157310194d98f21a31c94d1ac037a54aa597307577dcd94948e84ad9ff2a4b3
+SHA512 (nmstate-vendor-2.2.49.tar.xz) = c400c81381d024cb200a750efaa79e417a752a4908181667532c467f36854c7c6debe81cdbadb3e10c53dd06c7983fa99809aea1c8cecdc757a9241ab12f0e58