diff --git a/doctest.cabal b/doctest.cabal
--- a/doctest.cabal
+++ b/doctest.cabal
@@ -1,5 +1,5 @@
 name:             doctest
-version:          0.11.3
+version:          0.11.4
 synopsis:         Test interactive Haskell examples
 description:      The doctest program checks examples in source code comments.
                   It is modeled after doctest for Python
diff --git a/src/Options.hs b/src/Options.hs
--- a/src/Options.hs
+++ b/src/Options.hs
@@ -1,4 +1,5 @@
 {-# LANGUAGE CPP #-}
+{-# LANGUAGE DeriveFunctor #-}
 module Options (
   Result(..)
 , Run(..)
@@ -24,12 +25,13 @@
 usage :: String
 usage = unlines [
     "Usage:"
-  , "  doctest [ --no-magic | GHC OPTION | MODULE ]..."
+  , "  doctest [ --fast | --no-magic | GHC OPTION | MODULE ]..."
   , "  doctest --help"
   , "  doctest --version"
   , "  doctest --info"
   , ""
   , "Options:"
+  , "  --fast     disable :reload between example groups"
   , "  --help     display this help and exit"
   , "  --version  output version information and exit"
   , "  --info     output machine-readable version information and exit"
@@ -55,8 +57,8 @@
   , ("ghc", ghc)
   ]) ++ "\n]\n"
 
-data Result = Output String | Result Run
-  deriving (Eq, Show)
+data Result a = Output String | Result a
+  deriving (Eq, Show, Functor)
 
 type Warning = String
 
@@ -64,20 +66,26 @@
   runWarnings :: [Warning]
 , runOptions :: [String]
 , runMagicMode :: Bool
+, runFastMode :: Bool
 } deriving (Eq, Show)
 
-parseOptions :: [String] -> Result
+parseOptions :: [String] -> Result Run
 parseOptions args
   | "--help" `elem` args = Output usage
   | "--info" `elem` args = Output info
   | "--version" `elem` args = Output versionInfo
-  | otherwise = case stripOptGhc <$> stripNoMagic args of
-      (magicMode, (warning, xs)) -> Result (Run (maybeToList warning) xs magicMode)
+  | otherwise = case fmap stripOptGhc . stripFast <$> stripNoMagic args of
+      (magicMode, (fastMode, (warning, xs))) ->
+        Result (Run (maybeToList warning) xs magicMode fastMode)
 
 stripNoMagic :: [String] -> (Bool, [String])
-stripNoMagic args = (noMagic `notElem` args, filter (/= noMagic) args)
-  where
-    noMagic = "--no-magic"
+stripNoMagic = stripFlag False "--no-magic"
+
+stripFast :: [String] -> (Bool, [String])
+stripFast = stripFlag True  "--fast"
+
+stripFlag :: Bool -> String -> [String] -> (Bool, [String])
+stripFlag enableIt flag args = ((flag `elem` args) == enableIt, filter (/= flag) args)
 
 stripOptGhc :: [String] -> (Maybe Warning, [String])
 stripOptGhc = go
diff --git a/src/Run.hs b/src/Run.hs
--- a/src/Run.hs
+++ b/src/Run.hs
@@ -2,7 +2,7 @@
 module Run (
   doctest
 #ifdef TEST
-, doctest_
+, doctestWithFastMode
 , Summary
 , expandDirs
 #endif
@@ -43,7 +43,7 @@
 doctest :: [String] -> IO ()
 doctest args0 = case parseOptions args0 of
   Output s -> putStr s
-  Result (Run warnings args_ magicMode) -> do
+  Result (Run warnings args_ magicMode fastMode) -> do
     mapM_ (hPutStrLn stderr) warnings
     hFlush stderr
 
@@ -60,7 +60,7 @@
         addDistArgs <- getAddDistArgs
         return (addDistArgs $ packageDBArgs ++ expandedArgs)
 
-    r <- doctest_ args `E.catch` \e -> do
+    r <- doctestWithFastMode fastMode args `E.catch` \e -> do
       case fromException e of
         Just (UsageError err) -> do
           hPutStrLn stderr ("doctest: " ++ err)
@@ -123,11 +123,11 @@
 isSuccess :: Summary -> Bool
 isSuccess s = sErrors s == 0 && sFailures s == 0
 
-doctest_ :: [String] -> IO Summary
-doctest_ args = do
+doctestWithFastMode :: Bool -> [String] -> IO Summary
+doctestWithFastMode fastMode args = do
 
   -- get examples from Haddock comments
   modules <- getDocTests args
 
   Interpreter.withInterpreter args $ \repl -> withCP65001 $ do
-    runModules repl modules
+    runModules fastMode repl modules
diff --git a/src/Runner.hs b/src/Runner.hs
--- a/src/Runner.hs
+++ b/src/Runner.hs
@@ -52,11 +52,11 @@
   (Summary x1 x2 x3 x4) `mappend` (Summary y1 y2 y3 y4) = Summary (x1 + y1) (x2 + y2) (x3 + y3) (x4 + y4)
 
 -- | Run all examples from a list of modules.
-runModules :: Interpreter -> [Module [Located DocTest]] -> IO Summary
-runModules repl modules = do
+runModules :: Bool -> Interpreter -> [Module [Located DocTest]] -> IO Summary
+runModules fastMode repl modules = do
   isInteractive <- hIsTerminalDevice stderr
   ReportState _ _ s <- (`execStateT` ReportState 0 isInteractive mempty {sExamples = c}) $ do
-    forM_ modules $ runModule repl
+    forM_ modules $ runModule fastMode repl
 
     -- report final summary
     gets (show . reportStateSummary) >>= report
@@ -107,8 +107,8 @@
   liftIO (hPutStr stderr str)
 
 -- | Run all examples from given module.
-runModule :: Interpreter -> Module [Located DocTest] -> Report ()
-runModule repl (Module module_ setup examples) = do
+runModule :: Bool -> Interpreter -> Module [Located DocTest] -> Report ()
+runModule fastMode repl (Module module_ setup examples) = do
 
   Summary _ _ e0 f0 <- gets reportStateSummary
 
@@ -124,9 +124,11 @@
   where
     reload :: IO ()
     reload = do
-      -- NOTE: It is important to do the :reload first!  There was some odd bug
-      -- with a previous version of GHC (7.4.1?).
-      void $ Interpreter.safeEval repl   ":reload"
+      unless fastMode $
+        -- NOTE: It is important to do the :reload first! See
+        -- https://ghc.haskell.org/trac/ghc/ticket/5904, which results in a
+        -- panic on GHC 7.4.1 if you do the :reload second.
+        void $ Interpreter.safeEval repl ":reload"
       void $ Interpreter.safeEval repl $ ":m *" ++ module_
 
     setup_ :: IO ()