The high expectations that stem cells will cure diabetes have been met with a considerable degree of scepticism, particularly from people who have been hearing for decades that a cure is ‘just around the corner’. The conclusion of this article is that stem cell biology is promising and might deliver the advances the diabetes community has been waiting for. But no one knows how long this will take; no timetables for expected success will be presented – which might be a disappointment to some. Gordon Weir brings us up to date on recent progress in the field, and looks at the prospects for effective interventions to cure diabetes.