diff --git a/.gitignore b/.gitignore
index 56d9632ab..3276dce06 100644
--- a/.gitignore
+++ b/.gitignore
@@ -12,6 +12,7 @@
 nosetests.xml
 
 local/
+build/
 dist/
 docs/_build/
 .idea
diff --git a/setup.py b/setup.py
index 0fc079f30..933e122ad 100644
--- a/setup.py
+++ b/setup.py
@@ -26,10 +26,6 @@ def grep(attrname):
 
 file_text = read(fpath('arrow/__init__.py'))
 
-install_requires = ['python-dateutil']
-if sys.version_info[0] < 3:
-    install_requires.append('backports.functools_lru_cache==1.2.1')
-
 setup(
     name='arrow',
     version=grep('__version__'),
@@ -41,7 +37,12 @@ def grep(attrname):
     license='Apache 2.0',
     packages=['arrow'],
     zip_safe=False,
-    install_requires=install_requires,
+    install_requires=[
+        'python-dateutil',
+    ],
+    extras_require={
+        ":python_version=='2.7'": ['backports.functools_lru_cache>=1.2.1'],
+    },
     test_suite="tests",
     classifiers=[
         'Development Status :: 4 - Beta',