diff --git a/configure.ac b/configure.ac
index 19fecca4..b08db799 100644
--- a/configure.ac
+++ b/configure.ac
@@ -24,7 +24,8 @@
 
 AC_PREREQ([2.61])
 
-AC_INIT([XZ Utils], [4.999.8beta], [lasse.collin@tukaani.org], [xz])
+AC_INIT([XZ Utils], m4_esyscmd([/bin/sh version.sh]),
+	[lasse.collin@tukaani.org], [xz])
 AC_CONFIG_SRCDIR([src/liblzma/common/common.h])
 AC_CONFIG_HEADER([config.h])
 
diff --git a/src/liblzma/api/lzma/version.h b/src/liblzma/api/lzma/version.h
index 90d064a6..599c2cde 100644
--- a/src/liblzma/api/lzma/version.h
+++ b/src/liblzma/api/lzma/version.h
@@ -21,6 +21,27 @@
 #endif
 
 
+/*
+ * Version number splitted in components
+ */
+#define LZMA_VERSION_MAJOR 4
+#define LZMA_VERSION_MINOR 999
+#define LZMA_VERSION_PATCH 8
+#define LZMA_VERSION_STABILITY LZMA_VERSION_STABILITY_BETA
+
+#ifndef LZMA_VERSION_COMMIT
+#	define LZMA_VERSION_COMMIT ""
+#endif
+
+
+/*
+ * Map symbolic stability levels to integers.
+ */
+#define LZMA_VERSION_STABILITY_ALPHA 0
+#define LZMA_VERSION_STABILITY_BETA 1
+#define LZMA_VERSION_STABILITY_STABLE 2
+
+
 /**
  * \brief       Compile-time version number
  *
@@ -37,11 +58,52 @@
  * \note        The version number of liblzma has nothing to with
  *              the version number of Igor Pavlov's LZMA SDK.
  */
-#define LZMA_VERSION UINT32_C(49990081)
+#define LZMA_VERSION (LZMA_VERSION_MAJOR * UINT32_C(10000000) \
+		+ LZMA_VERSION_MINOR * UINT32_C(10000) \
+		+ LZMA_VERSION_PATCH * UINT32_C(10) \
+		+ LZMA_VERSION_STABILITY)
+
+
+/*
+ * Macros to construct the compile-time version string
+ */
+#if LZMA_VERSION_STABILITY == LZMA_VERSION_STABILITY_ALPHA
+#	define LZMA_VERSION_STABILITY_STRING "alpha"
+#elif LZMA_VERSION_STABILITY == LZMA_VERSION_STABILITY_BETA
+#	define LZMA_VERSION_STABILITY_STRING "beta"
+#elif LZMA_VERSION_STABILITY == LZMA_VERSION_STABILITY_STABLE
+#	define LZMA_VERSION_STABILITY_STRING ""
+#else
+#	error Incorrect LZMA_VERSION_STABILITY
+#endif
+
+#define LZMA_VERSION_STRING_C_(major, minor, patch, stability, commit) \
+		#major "." #minor "." #patch stability commit
+
+#define LZMA_VERSION_STRING_C(major, minor, patch, stability, commit) \
+		LZMA_VERSION_STRING_C_(major, minor, patch, stability, commit)
 
 
 /**
- * \brief       liblzma version number as an integer
+ * \brief       Compile-time version as a string
+ *
+ * This can be for example "4.999.5alpha", "4.999.8beta", or "5.0.0" (stable
+ * versions don't have any "stable" suffix). In future, a snapshot built
+ * from source code repository may include an additional suffix, for example
+ * "4.999.8beta-21-g1d92". The commit ID won't be available in numeric form
+ * in LZMA_VERSION macro.
+ */
+#define LZMA_VERSION_STRING LZMA_VERSION_STRING_C( \
+		LZMA_VERSION_MAJOR, LZMA_VERSION_MINOR, \
+		LZMA_VERSION_PATCH, LZMA_VERSION_STABILITY_STRING, \
+		LZMA_VERSION_COMMIT)
+
+
+/* #ifndef is needed for use with MinGW's windres. */
+#ifndef LZMA_H_INTERNAL_RC
+
+/**
+ * \brief       Run-time version number as an integer
  *
  * Returns the value of LZMA_VERSION macro at the compile time of liblzma.
  * This allows the application to compare if it was built against the same,
@@ -51,9 +113,11 @@ extern LZMA_API(uint32_t) lzma_version_number(void) lzma_attr_const;
 
 
 /**
- * \brief       Version number of liblzma as a string
+ * \brief       Run-time version as a string
  *
  * This function may be useful if you want to display which version of
  * liblzma your application is currently using.
  */
 extern LZMA_API(const char *) lzma_version_string(void) lzma_attr_const;
+
+#endif
diff --git a/src/liblzma/common/common.c b/src/liblzma/common/common.c
index b1733973..b058a87e 100644
--- a/src/liblzma/common/common.c
+++ b/src/liblzma/common/common.c
@@ -34,7 +34,7 @@ lzma_version_number(void)
 extern LZMA_API(const char *)
 lzma_version_string(void)
 {
-	return PACKAGE_VERSION;
+	return LZMA_VERSION_STRING;
 }
 
 
diff --git a/src/xz/message.c b/src/xz/message.c
index 33eb0b3b..fd519c8f 100644
--- a/src/xz/message.c
+++ b/src/xz/message.c
@@ -892,7 +892,7 @@ message_version(void)
 {
 	// It is possible that liblzma version is different than the command
 	// line tool version, so print both.
-	printf("xz " PACKAGE_VERSION "\n");
+	printf("xz " LZMA_VERSION_STRING "\n");
 	printf("liblzma %s\n", lzma_version_string());
 	my_exit(E_SUCCESS);
 }
diff --git a/src/xzdec/xzdec.c b/src/xzdec/xzdec.c
index 44543f4d..57e98776 100644
--- a/src/xzdec/xzdec.c
+++ b/src/xzdec/xzdec.c
@@ -101,7 +101,7 @@ help(void)
 static void lzma_attribute((noreturn))
 version(void)
 {
-	printf(TOOL_FORMAT "dec " PACKAGE_VERSION "\n"
+	printf(TOOL_FORMAT "dec " LZMA_VERSION_STRING "\n"
 			"liblzma %s\n", lzma_version_string());
 
 	my_exit();
diff --git a/version.sh b/version.sh
new file mode 100644
index 00000000..404a9e2a
--- /dev/null
+++ b/version.sh
@@ -0,0 +1,23 @@
+#!/bin/sh
+#
+#############################################################################
+#
+# Get the version string from version.h and print it out without
+# trailing newline. This makes it suitable for use in configure.ac.
+#
+#############################################################################
+#
+# Author: Lasse Collin
+#
+# This file has been put into the public domain.
+# You can do whatever you want with this file.
+#
+#############################################################################
+
+sed -n 's/LZMA_VERSION_STABILITY_ALPHA/alpha/
+	s/LZMA_VERSION_STABILITY_BETA/beta/
+	s/LZMA_VERSION_STABILITY_STABLE//
+	s/^#define LZMA_VERSION_[MPS][AIT][AJNT][A-Z]* //p' \
+	src/liblzma/api/lzma/version.h \
+	| tr '\n' '|' \
+	| sed 's/|/./; s/|/./; s/|//g'