Popen bug in pypy?

bug.py

import subprocess

while True:
    p = subprocess.Popen(['cat'], stdin=subprocess.PIPE,
                                  stdout=subprocess.PIPE)
    p.stdin.close()
    p.wait()

gistfile1.txt

$ pypy bug.py 
Traceback (most recent call last):
  File "app_main.py", line 75, in run_toplevel
  File "bug.py", line 5, in <module>
    stdout=subprocess.PIPE)
  File "/opt/local/lib/pypy/lib-python/2.7/subprocess.py", line 725, in __init__
    errread, errwrite)
  File "/opt/local/lib/pypy/lib-python/2.7/subprocess.py", line 1234, in _execute_child
    errpipe_read, errpipe_write = self.pipe_cloexec()
  File "/opt/local/lib/pypy/lib-python/2.7/subprocess.py", line 1186, in pipe_cloexec
    r, w = os.pipe()
OSError: [Errno 24] Too many open files