diff --git a/clutter/clutter-text.c b/clutter/clutter-text.c
index 9925d903d..4cf56b5ba 100644
--- a/clutter/clutter-text.c
+++ b/clutter/clutter-text.c
@@ -112,8 +112,18 @@ struct _ClutterTextPrivate
   LayoutCache cached_layouts[N_CACHED_LAYOUTS];
   guint cache_age;
 
+  /* These are the attributes set by the attributes property */
   PangoAttrList *attrs;
+  /* These are the attributes derived from the text when the
+     use-markup property is set */
+  PangoAttrList *markup_attrs;
+  /* This is the combination of the above two lists. It is set to NULL
+     whenever either of them changes and then regenerated by merging
+     the two lists whenever a layout is needed */
   PangoAttrList *effective_attrs;
+  /* These are the attributes for the preedit string. These are merged
+     with the effective attributes into a temporary list before
+     creating a layout */
   PangoAttrList *preedit_attrs;
 
   guint alignment           : 2;
@@ -287,6 +297,52 @@ clutter_text_get_display_text (ClutterText *self)
     }
 }
 
+static void
+clutter_text_ensure_effective_attributes (ClutterText *self)
+{
+  ClutterTextPrivate *priv = self->priv;
+
+  /* If we already have the effective attributes then we don't need to
+     do anything */
+  if (priv->effective_attrs == NULL)
+    {
+      if (priv->attrs)
+        {
+          /* If there are no markup attributes then we can just use
+             these attributes directly */
+          if (priv->markup_attrs == NULL)
+            priv->effective_attrs = pango_attr_list_ref (priv->attrs);
+          else
+            {
+              /* Otherwise we need to merge the two lists */
+              PangoAttrIterator *iter;
+              GSList *attributes, *l;
+
+              priv->effective_attrs = pango_attr_list_copy (priv->markup_attrs);
+
+              iter = pango_attr_list_get_iterator (priv->attrs);
+              do
+                {
+                  attributes = pango_attr_iterator_get_attrs (iter);
+
+                  for (l = attributes; l != NULL; l = l->next)
+                    {
+                      PangoAttribute *attr = l->data;
+
+                      pango_attr_list_insert (priv->effective_attrs, attr);
+                    }
+
+                  g_slist_free (attributes);
+                }
+              while (pango_attr_iterator_next (iter));
+            }
+        }
+      else if (priv->markup_attrs)
+        /* We can just use the markup attributes directly */
+        priv->effective_attrs = pango_attr_list_ref (priv->markup_attrs);
+    }
+}
+
 static PangoLayout *
 clutter_text_create_layout_no_cache (ClutterText *text,
                                      gfloat       allocation_width,
@@ -333,8 +389,15 @@ clutter_text_create_layout_no_cache (ClutterText *text,
   else
     pango_layout_set_text (layout, contents, contents_len);
 
-  if (!priv->editable && priv->effective_attrs)
-    pango_layout_set_attributes (layout, priv->effective_attrs);
+  if (!priv->editable)
+    {
+      /* This will merge the markup attributes and the attributes
+         property if needed */
+      clutter_text_ensure_effective_attributes (text);
+
+      if (priv->effective_attrs)
+        pango_layout_set_attributes (layout, priv->effective_attrs);
+    }
 
   pango_layout_set_alignment (layout, priv->alignment);
   pango_layout_set_single_paragraph_mode (layout, priv->single_line_mode);
@@ -749,39 +812,6 @@ clutter_text_delete_selection (ClutterText *self)
   return TRUE;
 }
 
-static void
-clutter_text_merge_attributes (ClutterText *self)
-{
-  ClutterTextPrivate *priv = self->priv;
-  PangoAttrIterator *iter;
-  GSList *attributes, *l;
-
-  if (!priv->attrs)
-    return;
-
-  if (!priv->effective_attrs)
-    {
-      priv->effective_attrs = pango_attr_list_ref (priv->attrs);
-      return;
-    }
-
-  iter = pango_attr_list_get_iterator (priv->attrs);
-  do
-    {
-      attributes = pango_attr_iterator_get_attrs (iter);
-
-      for (l = attributes; l != NULL; l = l->next)
-        {
-          PangoAttribute *attr = l->data;
-
-          pango_attr_list_insert (priv->effective_attrs, attr);
-        }
-
-      g_slist_free (attributes);
-    }
-  while (pango_attr_iterator_next (iter));
-}
-
 static inline void
 clutter_text_set_text_internal (ClutterText *self,
                                 const gchar *text)
@@ -885,15 +915,18 @@ clutter_text_set_markup_internal (ClutterText *self,
       g_free (text);
     }
 
-  if (attrs)
+  /* Store the new markup attributes */
+  if (priv->markup_attrs)
+    pango_attr_list_unref (priv->markup_attrs);
+  priv->markup_attrs = attrs;
+
+  /* Clear the effective attributes so they will be regenerated when a
+     layout is created */
+  if (priv->effective_attrs)
     {
-      if (priv->effective_attrs)
-        pango_attr_list_unref (priv->effective_attrs);
-
-      priv->effective_attrs = attrs;
+      pango_attr_list_unref (priv->effective_attrs);
+      priv->effective_attrs = NULL;
     }
-
-  clutter_text_merge_attributes (self);
 }
 
 static void
@@ -1146,6 +1179,8 @@ clutter_text_finalize (GObject *gobject)
 
   if (priv->attrs)
     pango_attr_list_unref (priv->attrs);
+  if (priv->markup_attrs)
+    pango_attr_list_unref (priv->markup_attrs);
   if (priv->effective_attrs)
     pango_attr_list_unref (priv->effective_attrs);
   if (priv->preedit_attrs)
@@ -3858,18 +3893,13 @@ clutter_text_set_attributes (ClutterText   *self,
 
   priv->attrs = attrs;
 
-  if (!priv->use_markup)
+  /* Clear the effective attributes so they will be regenerated when a
+     layout is created */
+  if (priv->effective_attrs)
     {
-      if (attrs)
-	pango_attr_list_ref (attrs);
-
-      if (priv->effective_attrs)
-	pango_attr_list_unref (priv->effective_attrs);
-
-      priv->effective_attrs = attrs;
+      pango_attr_list_unref (priv->effective_attrs);
+      priv->effective_attrs = NULL;
     }
-  else
-    clutter_text_set_markup_internal (self, priv->text);
 
   clutter_text_dirty_cache (self);