diff --git a/NEWS b/NEWS
index e636174c..a4c0e760 100644
--- a/NEWS
+++ b/NEWS
@@ -7,6 +7,8 @@
   * [iOS] Fixed a bug where `rake simulator' would open 2 simulator apps at
     the same time, due to the fact that the application name changed between
     Xcode 4.x and Xcode 5.
+  * Improve string interpolation performance. 40% faster.
+  * Improve String#delete performance. 5 times faster.
 
 = RubyMotion 2.2 =
 
diff --git a/Rakefile b/Rakefile
index 7b878fca..6aeb826f 100644
--- a/Rakefile
+++ b/Rakefile
@@ -1,4 +1,4 @@
-PROJECT_VERSION = '2.2'
+PROJECT_VERSION = '2.3'
 PLATFORMS_DIR = (ENV['PLATFORMS_DIR'] || '/Applications/Xcode.app/Contents/Developer/Platforms')
 
 sim_sdks = Dir.glob(File.join(PLATFORMS_DIR, 'iPhoneSimulator.platform/Developer/SDKs/iPhoneSimulator*.sdk')).map do |path|
diff --git a/vm b/vm
index 0ff3a560..19cafc5d 160000
--- a/vm
+++ b/vm
@@ -1 +1 @@
-Subproject commit 0ff3a560ad5cba25e7ab86a54d5f374c4b1b858f
+Subproject commit 19cafc5d440e69bc9819ee13664b538b5e3b3b85