diff --git a/pep8.py b/pep8.py
index 6ec0ae75..f628c00a 100755
--- a/pep8.py
+++ b/pep8.py
@@ -128,7 +128,7 @@ def blank_lines(logical_line, blank_lines, indent_level, line_number)
 EXTRANEOUS_WHITESPACE_REGEX = re.compile(r'[[({] | []}),;:]')
 WHITESPACE_AROUND_NAMED_PARAMETER_REGEX = \
     re.compile(r'[()]|\s=[^=]|[^=!<>]=\s')
-
+LAMBDA_REGEX = re.compile(r'\blambda\b')
 
 WHITESPACE = ' \t'
 
@@ -661,7 +661,7 @@ def compound_statements(logical_line):
         before = line[:found]
         if (before.count('{') <= before.count('}') and  # {'a': 1} (dict)
             before.count('[') <= before.count(']') and  # [1:2] (slice)
-            not re.search(r'\blambda\b', before)):      # lambda x: x
+            not LAMBDA_REGEX.search(before)):           # lambda x: x
             return found, "E701 multiple statements on one line (colon)"
     found = line.find(';')
     if -1 < found: