diff --git a/Makefile b/Makefile
index e3c79b84..ab7e57c6 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@
 
 doc:
 	cd docs && make html
-	echo "open file://`pwd`/docs/_build/html/index.html"
+	@echo "open file://`pwd`/docs/_build/html/index.html"
 
 pep:
 	pep8 aiopg examples tests
@@ -18,6 +18,7 @@ vtest: pep flake
 
 cov cover coverage: pep flake
 	py.test --cov=aiopg --cov=tests --cov-report=html --cov-report=term tests
+	@echo "open file://`pwd`/htmlcov/index.html"
 
 clean:
 	find . -name __pycache__ |xargs rm -rf
diff --git a/aiopg/connection.py b/aiopg/connection.py
index ca4f9a59..3669656e 100644
--- a/aiopg/connection.py
+++ b/aiopg/connection.py
@@ -166,8 +166,23 @@ def _create_waiter(self, func_name):
     def _poll(self, waiter, timeout):
         assert waiter is self._waiter, (waiter, self._waiter)
         self._ready(self._weakref)
+
+        @asyncio.coroutine
+        def cancel():
+            if not self._isexecuting():
+                return
+            self._waiter = asyncio.Future(loop=self._loop)
+            self._conn.cancel()
+            try:
+                yield from self._waiter
+            except psycopg2.extensions.QueryCanceledError:
+                pass
+
         try:
             yield from asyncio.wait_for(self._waiter, timeout, loop=self._loop)
+        except (asyncio.CancelledError, asyncio.TimeoutError) as exc:
+            yield from asyncio.shield(cancel(), loop=self._loop)
+            raise exc
         finally:
             self._waiter = None
 
@@ -282,14 +297,24 @@ def tpc_recover(self):
     @asyncio.coroutine
     def cancel(self, timeout=None):
         """Cancel the current database operation."""
-        waiter = self._create_waiter('cancel')
-        self._conn.cancel()
-        if timeout is None:
-            timeout = self._timeout
-        try:
-            yield from self._poll(waiter, timeout)
-        except psycopg2.extensions.QueryCanceledError:
-            pass
+        if timeout is not None:
+            warnings.warn('timeout parameter is deprecated and never used',
+                          DeprecationWarning)
+        if not self._isexecuting():
+            return
+        if self._waiter is not None:
+            self._waiter.cancel()
+
+        @asyncio.coroutine
+        def cancel():
+            self._waiter = asyncio.Future(loop=self._loop)
+            self._conn.cancel()
+            try:
+                yield from self._waiter
+            except psycopg2.extensions.QueryCanceledError:
+                pass
+
+        yield from asyncio.shield(cancel(), loop=self._loop)
 
     @asyncio.coroutine
     def reset(self):
diff --git a/aiopg/cursor.py b/aiopg/cursor.py
index 954ec04d..6d51a208 100644
--- a/aiopg/cursor.py
+++ b/aiopg/cursor.py
@@ -111,7 +111,6 @@ def execute(self, operation, parameters=None, *, timeout=None):
         try:
             yield from self._conn._poll(waiter, timeout)
         except asyncio.TimeoutError:
-            yield from self._conn.cancel()
             self._impl.close()
             raise
 
diff --git a/tests/test_connection.py b/tests/test_connection.py
index c8087dc1..130e9e0c 100644
--- a/tests/test_connection.py
+++ b/tests/test_connection.py
@@ -340,7 +340,7 @@ def go():
 
         self.loop.run_until_complete(go())
 
-    def test_cancel(self):
+    def test_cancel_noop(self):
 
         @asyncio.coroutine
         def go():
@@ -354,7 +354,23 @@ def test_cancel_with_timeout(self):
         @asyncio.coroutine
         def go():
             conn = yield from self.connect()
-            yield from conn.cancel(10)
+            with self.assertWarns(DeprecationWarning):
+                yield from conn.cancel(10)
+
+        self.loop.run_until_complete(go())
+
+    def test_cancel_pending_op(self):
+
+        @asyncio.coroutine
+        def go():
+            conn = yield from self.connect()
+            cur = yield from conn.cursor()
+            task = asyncio.async(cur.execute("SELECT pg_sleep(10)"),
+                                 loop=self.loop)
+            yield from asyncio.sleep(0.01, loop=self.loop)
+            yield from conn.cancel()
+            with self.assertRaises(asyncio.CancelledError):
+                yield from task
 
         self.loop.run_until_complete(go())