diff --git a/CHANGES.md b/CHANGES.md
index 487663b..331e2da 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,5 +1,7 @@
 <!-- vim:ts=4:sts=4:sw=4:et:tw=60 -->
 
+ - Add support for progress observers on readable stream `read` promise.
+
 ## 2.0.2
 
  - Fixed problems with hanging connections, and problems with early termination
diff --git a/http.js b/http.js
index 9f52915..d5473d9 100644
--- a/http.js
+++ b/http.js
@@ -177,12 +177,12 @@ exports.ServerRequest = function (_request, ssl) {
         path: request.path
     });
     /*** A Q IO asynchronous text reader */
-    request.body = NodeReader(_request);
+    request.body = NodeReader(_request, null, +request.headers["content-length"]);
     /*** {Object} HTTP headers (JSGI)*/
     request.headers = _request.headers;
     /*** The underlying Node request */
     request.node = _request;
-    request.nodeRequest = _request; // Deprecated
+    request.nodeRequest = _request; // XXX Deprecated
     /*** The underlying Node TCP connection */
     request.nodeConnection = _request.connection;
 
@@ -337,7 +337,7 @@ exports.ClientResponse = function (_response, charset) {
     response.node = _response;
     response.nodeResponse = _response; // Deprecated
     response.nodeConnection = _response.connection; // Deprecated
-    response.body = NodeReader(_response, charset);
+    response.body = NodeReader(_response, charset, +response.headers["content-length"]);
     return response;
 };
 
diff --git a/node/reader.js b/node/reader.js
index 94abfe6..babc972 100644
--- a/node/reader.js
+++ b/node/reader.js
@@ -8,38 +8,29 @@ var version = process.versions.node.split('.');
 var supportsReadable = version[0] >= 0 && version[1] >= 10;
 
 module.exports = Reader;
-function Reader(_stream, charset) {
+function Reader(_stream, charset, length) {
     if (charset && _stream.setEncoding) // TODO complain about inconsistency
         _stream.setEncoding(charset);
 
     var window = 0;
+    var index = 0;
     var drained = true;
     var queue = new Queue();
     var output = new BufferStream({
         get: function () {
             window++;
             if (window > 0) {
-                tick();
+                flush();
             }
             return queue.get();
         },
         put: queue.put
     });
 
-    // this triggers a switch in StreamReader#read
+    // this triggers a switch in `read`
     output.charset = charset;
-
-    function tick() {
-        if (window > 0 && !drained) {
-            var chunk = _stream.read();
-            if (chunk === null) {
-                drained = true;
-                return;
-            }
-            window--;
-            output.yield(chunk);
-        }
-    }
+    // also used in `read` for progress estimates
+    output.length = length;
 
     _stream.on("error", function (error) {
         output.throw(error);
@@ -49,16 +40,22 @@ function Reader(_stream, charset) {
         output.return();
     });
 
+    _stream.on("readable", function () {
+        drained = false;
+        flush();
+    });
 
-    if (supportsReadable) {
-        _stream.on("readable", function () {
-            drained = false;
-            tick();
-        });
-    } else {
-        _stream.on("data", function (chunk) {
-            output.yield(chunk);
-        });
+    function flush() {
+        if (window > 0 && !drained) {
+            var chunk = _stream.read();
+            if (chunk === null) {
+                drained = true;
+                return;
+            }
+            window--;
+            output.yield(chunk, index);
+            index += chunk.length;
+        }
     }
 
     return output;
diff --git a/streams.js b/streams.js
index f5ca107..07f1714 100644
--- a/streams.js
+++ b/streams.js
@@ -223,16 +223,27 @@ Readable.prototype.copy = function (output) {
 Readable.prototype.read = function () {
     var chunks = [];
     var self = this;
-    return this.forEach(function (chunk) {
+    var deferred = Q.defer();
+    var index = 0;
+    var start = Date.now();
+    this.forEach(function (chunk) {
         chunks.push(chunk);
-    })
-    .then(function () {
+        index += chunk.length;
+        if (this.length) {
+            var now = Date.now(); // milliseconds
+            var speed = index / (now - start); // bytes per milliseconds
+            var remaining = this.length - index; // bytes
+            deferred.setEstimate(now + remaining / speed); // milliseconds
+        }
+    }, this)
+    .done(function () {
         if (self.charset) {
-            return chunks.join("");
+            deferred.resolve(chunks.join(""));
         } else {
-            return Buffer.concat(chunks);
+            deferred.resolve(Buffer.concat(chunks));
         }
-    });
+    }, deferred.reject);
+    return deferred.promise;
 }
 
 Readable.prototype.cancel = function () {