diff --git a/org.springframework.context/src/main/java/org/springframework/context/support/GenericApplicationContext.java b/org.springframework.context/src/main/java/org/springframework/context/support/GenericApplicationContext.java
index f6db1726836..ce38ecef471 100644
--- a/org.springframework.context/src/main/java/org/springframework/context/support/GenericApplicationContext.java
+++ b/org.springframework.context/src/main/java/org/springframework/context/support/GenericApplicationContext.java
@@ -18,6 +18,7 @@ package org.springframework.context.support;
 
 import java.io.IOException;
 
+import org.springframework.beans.BeansException;
 import org.springframework.beans.factory.BeanDefinitionStoreException;
 import org.springframework.beans.factory.NoSuchBeanDefinitionException;
 import org.springframework.beans.factory.annotation.QualifierAnnotationAutowireCandidateResolver;
@@ -99,7 +100,6 @@ public class GenericApplicationContext extends AbstractApplicationContext implem
 	 */
 	public GenericApplicationContext() {
 		this.beanFactory = new DefaultListableBeanFactory();
-		this.beanFactory.setSerializationId(getId());
 		this.beanFactory.setParameterNameDiscoverer(new LocalVariableTableParameterNameDiscoverer());
 		this.beanFactory.setAutowireCandidateResolver(new QualifierAnnotationAutowireCandidateResolver());
 	}
@@ -153,7 +153,6 @@ public class GenericApplicationContext extends AbstractApplicationContext implem
 	@Override
 	public void setId(String id) {
 		super.setId(id);
-		this.beanFactory.setSerializationId(id);
 	}
 
 	/**
@@ -243,9 +242,16 @@ public class GenericApplicationContext extends AbstractApplicationContext implem
 			throw new IllegalStateException(
 					"GenericApplicationContext does not support multiple refresh attempts: just call 'refresh' once");
 		}
+		this.beanFactory.setSerializationId(getId());
 		this.refreshed = true;
 	}
 
+	@Override
+	protected void cancelRefresh(BeansException ex) {
+		this.beanFactory.setSerializationId(null);
+		super.cancelRefresh(ex);
+	}
+
 	/**
 	 * Not much to do: We hold a single internal BeanFactory that will never
 	 * get released.
diff --git a/org.springframework.context/src/test/java/org/springframework/context/support/SerializableBeanFactoryMemoryLeakTests.java b/org.springframework.context/src/test/java/org/springframework/context/support/SerializableBeanFactoryMemoryLeakTests.java
new file mode 100644
index 00000000000..e644e8426c6
--- /dev/null
+++ b/org.springframework.context/src/test/java/org/springframework/context/support/SerializableBeanFactoryMemoryLeakTests.java
@@ -0,0 +1,94 @@
+package org.springframework.context.support;
+
+import static org.hamcrest.CoreMatchers.equalTo;
+import static org.junit.Assert.assertThat;
+import static org.springframework.beans.factory.support.BeanDefinitionBuilder.rootBeanDefinition;
+
+import java.lang.reflect.Field;
+import java.util.Map;
+
+import org.junit.AfterClass;
+import org.junit.BeforeClass;
+import org.junit.Test;
+import org.springframework.beans.factory.BeanCreationException;
+import org.springframework.beans.factory.support.BeanDefinitionRegistry;
+import org.springframework.beans.factory.support.DefaultListableBeanFactory;
+import org.springframework.context.ConfigurableApplicationContext;
+
+/**
+ * Unit tests cornering SPR-7502.
+ *
+ * @author Chris Beams
+ */
+public class SerializableBeanFactoryMemoryLeakTests {
+
+	/**
+	 * Defensively zero-out static factory count - other tests
+	 * may have misbehaved before us.
+	 */
+	@BeforeClass
+	@AfterClass
+	public static void zeroOutFactoryCount() throws Exception {
+		getSerializableFactoryMap().clear();
+	}
+
+	@Test
+	public void genericContext() throws Exception {
+		assertFactoryCountThroughoutLifecycle(new GenericApplicationContext());
+	}
+
+	@Test
+	public void abstractRefreshableContext() throws Exception {
+		assertFactoryCountThroughoutLifecycle(new ClassPathXmlApplicationContext());
+	}
+
+	@Test
+	public void genericContextWithMisconfiguredBean() throws Exception {
+		GenericApplicationContext ctx = new GenericApplicationContext();
+		registerMisconfiguredBeanDefinition(ctx);
+		assertFactoryCountThroughoutLifecycle(ctx);
+	}
+
+	@Test
+	public void abstractRefreshableContextWithMisconfiguredBean() throws Exception {
+		ClassPathXmlApplicationContext ctx = new ClassPathXmlApplicationContext() {
+			@Override
+			protected void customizeBeanFactory(DefaultListableBeanFactory beanFactory) {
+				super.customizeBeanFactory(beanFactory);
+				registerMisconfiguredBeanDefinition(beanFactory);
+			}
+		};
+		assertFactoryCountThroughoutLifecycle(ctx);
+	}
+
+	private void assertFactoryCountThroughoutLifecycle(ConfigurableApplicationContext ctx) throws Exception {
+		assertThat(serializableFactoryCount(), equalTo(0));
+		try {
+			ctx.refresh();
+			assertThat(serializableFactoryCount(), equalTo(1));
+			ctx.close();
+		} catch (BeanCreationException ex) {
+			// ignore - this is expected on refresh() for failure case tests
+		} finally {
+			assertThat(serializableFactoryCount(), equalTo(0));
+		}
+	}
+
+	private void registerMisconfiguredBeanDefinition(BeanDefinitionRegistry registry) {
+		registry.registerBeanDefinition("misconfigured",
+			rootBeanDefinition(Object.class).addPropertyValue("nonexistent", "bogus")
+				.getBeanDefinition());
+	}
+
+	private int serializableFactoryCount() throws Exception {
+		Map<?, ?> map = getSerializableFactoryMap();
+		return map.size();
+	}
+
+	private static Map<?, ?> getSerializableFactoryMap() throws Exception {
+		Field field = DefaultListableBeanFactory.class.getDeclaredField("serializableFactories");
+		field.setAccessible(true);
+		return (Map<?, ?>) field.get(DefaultListableBeanFactory.class);
+	}
+
+}