mercurial/commands.py

--- a/mercurial/commands.py	Tue Mar 09 19:04:18 2010 +0100
+++ b/mercurial/commands.py	Tue Mar 09 20:47:35 2010 +0100
@@ -564,6 +564,10 @@
         revs, checkout = hg.addbranchrevs(repo, other, branches, revs)
         o = repo.findoutgoing(other, force=opts.get('force'))
 
+    if not o:
+        ui.status(_("no changes found\n"))
+        return
+
     if revs:
         cg = repo.changegroupsubset(o, revs, 'bundle')
     else: