diff --git a/IPython/core/debugger.py b/IPython/core/debugger.py
index 5b68a10..63d0cd8 100644
--- a/IPython/core/debugger.py
+++ b/IPython/core/debugger.py
@@ -34,7 +34,7 @@ import sys
 from IPython import PyColorize, ipapi
 from IPython.utils import coloransi
 from IPython.genutils import Term
-from IPython.excolors import exception_colors
+from IPython.core.excolors import exception_colors
 
 # See if we can use pydb.
 has_pydb = False
diff --git a/IPython/excolors.py b/IPython/core/excolors.py
similarity index 100%
rename from IPython/excolors.py
rename to IPython/core/excolors.py
diff --git a/IPython/core/tests/test_imports.py b/IPython/core/tests/test_imports.py
index 82cd739..8f3824f 100644
--- a/IPython/core/tests/test_imports.py
+++ b/IPython/core/tests/test_imports.py
@@ -13,3 +13,6 @@ def test_import_debugger():
 def test_import_fakemodule():
     from IPython.core import fakemodule
 
+def test_import_excolors():
+    from IPython.core import excolors
+
diff --git a/IPython/kernel/core/ultraTB.py b/IPython/kernel/core/ultraTB.py
index 71ea479..eaef8d1 100644
--- a/IPython/kernel/core/ultraTB.py
+++ b/IPython/kernel/core/ultraTB.py
@@ -93,7 +93,7 @@ from inspect import getsourcefile, getfile, getmodule,\
 from IPython import PyColorize
 from IPython.core import debugger
 from IPython.ipstruct import Struct
-from IPython.excolors import exception_colors
+from IPython.core.excolors import exception_colors
 from IPython.genutils import Term,uniq_stable,error,info
 
 # Globals
diff --git a/IPython/testing/plugin/Makefile b/IPython/testing/plugin/Makefile
index dd65022..dec6a23 100644
--- a/IPython/testing/plugin/Makefile
+++ b/IPython/testing/plugin/Makefile
@@ -37,7 +37,7 @@ magic: plugin
 	$(NOSE) IPython.Magic
 
 excolors: plugin
-	$(NOSE) IPython.excolors
+	$(NOSE) IPython.core.excolors
 
 iplib: plugin
 	$(NOSE)  IPython.iplib
diff --git a/IPython/ultraTB.py b/IPython/ultraTB.py
index c230354..d3f3628 100644
--- a/IPython/ultraTB.py
+++ b/IPython/ultraTB.py
@@ -93,7 +93,7 @@ from inspect import getsourcefile, getfile, getmodule,\
 from IPython import PyColorize
 from IPython.core import debugger
 from IPython.ipstruct import Struct
-from IPython.excolors import exception_colors
+from IPython.core.excolors import exception_colors
 from IPython.genutils import Term,uniq_stable,error,info
 
 # Globals