diff --git a/.github/workflows/rust.yml b/.github/workflows/rust.yml
index f419320..3b68cae 100644
--- a/.github/workflows/rust.yml
+++ b/.github/workflows/rust.yml
@@ -11,6 +11,9 @@ env:
 
 jobs:
   build:
+    strategy:
+      matrix:
+        features: ["", "--no-default-features"]
     runs-on: ubuntu-latest
     steps:
     - uses: actions/checkout@v3
@@ -21,12 +24,15 @@ jobs:
     - name: Clippy
       run: cargo clippy --all-features --all-targets -- -D warnings
     - name: Build
-      run: cargo build --verbose
+      run: cargo build --verbose ${{ matrix.features }}
     - name: Run tests
-      run: cargo test --verbose
+      run: cargo test --verbose ${{ matrix.features }}
 
   miri:
     name: "Miri"
+    strategy:
+      matrix:
+        features: ["", "--no-default-features"]
     runs-on: ubuntu-latest
     steps:
       - uses: actions/checkout@v3
@@ -36,4 +42,4 @@ jobs:
           rustup override set nightly
           cargo miri setup
       - name: Test with Miri
-        run: cargo miri test
+        run: cargo miri test ${{ matrix.features }}
diff --git a/Cargo.toml b/Cargo.toml
index af44896..2a9681d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -4,7 +4,7 @@
 [package]
 name = "stackfuture"
 description = "StackFuture is a wrapper around futures that stores the wrapped future in space provided by the caller."
-version = "0.1.1"
+version = "0.2.0"
 edition = "2021"
 license = "MIT"
 authors = ["Microsoft"]
@@ -16,3 +16,7 @@ categories = ["asynchronous", "no-std", "rust-patterns"]
 
 [dev-dependencies]
 futures = { version = "0.3", features = ["executor"] }
+
+[features]
+default = ["alloc"]
+alloc = []
diff --git a/src/lib.rs b/src/lib.rs
index 6cd51c9..3f0bb8b 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -20,6 +20,12 @@ use core::ptr;
 use core::task::Context;
 use core::task::Poll;
 
+#[cfg(feature = "alloc")]
+extern crate alloc;
+
+#[cfg(feature = "alloc")]
+use alloc::boxed::Box;
+
 /// A wrapper that stores a future in space allocated by the container
 ///
 /// Often this space comes from the calling function's stack, but it could just
@@ -138,11 +144,27 @@ impl<'a, T, const STACK_SIZE: usize> StackFuture<'a, T, { STACK_SIZE }> {
         F: Future<Output = T> + Send + 'a, // the bounds here should match those in the _phantom field
     {
         Self::try_from(future).unwrap_or_else(|f| {
-            panic!(
-                "cannot create StackFuture, required size is {}, available space is {}",
-                mem::size_of_val(&f),
-                STACK_SIZE
-            )
+            match (Self::has_alignment_for_val(&f), Self::has_space_for_val(&f)) {
+                (false, false) => panic!(
+                    "cannot create StackFuture, required size is {}, available space is {}; required alignment is {} but maximum alignment is {}",
+                    mem::size_of_val(&f),
+                    STACK_SIZE,
+                    mem::align_of::<F>(),
+                    mem::align_of::<Self>()
+                ),
+                (false, true) => panic!(
+                    "cannot create StackFuture, required alignment is {} but maximum alignment is {}",
+                    mem::align_of::<F>(),
+                    mem::align_of::<Self>()
+                ),
+                (true, false) => panic!(
+                    "cannot create StackFuture, required size is {}, available space is {}",
+                    mem::size_of_val(&f),
+                    STACK_SIZE
+                ),
+                // If we have space and alignment, then `try_from` would have succeeded
+                (true, true) => unreachable!(),
+            }
         })
     }
 
@@ -158,15 +180,7 @@ impl<'a, T, const STACK_SIZE: usize> StackFuture<'a, T, { STACK_SIZE }> {
     where
         F: Future<Output = T> + Send + 'a, // the bounds here should match those in the _phantom field
     {
-        if mem::align_of::<F>() > mem::align_of::<Self>() {
-            panic!(
-                "cannot create StackFuture, required alignment is {} but maximum alignment is {}",
-                mem::align_of::<F>(),
-                mem::align_of::<Self>()
-            )
-        }
-
-        if Self::has_space_for_val(&future) {
+        if Self::has_space_for_val(&future) && Self::has_alignment_for_val(&future) {
             let mut result = StackFuture {
                 data: [MaybeUninit::uninit(); STACK_SIZE],
                 poll_fn: Self::poll_inner::<F>,
@@ -193,6 +207,24 @@ impl<'a, T, const STACK_SIZE: usize> StackFuture<'a, T, { STACK_SIZE }> {
         }
     }
 
+    /// Creates a StackFuture from the given future, boxing if necessary
+    ///
+    /// This version will succeed even if the future is larger than `STACK_SIZE`. If the future
+    /// is too large, `from_or_box` will allocate a `Box` on the heap and store the resulting
+    /// boxed future in the `StackFuture`.
+    ///
+    /// The same thing also happens if the wrapped future's alignment is larger than StackFuture's
+    /// alignment.
+    ///
+    /// This function requires the "alloc" crate feature.
+    #[cfg(feature = "alloc")]
+    pub fn from_or_box<F>(future: F) -> Self
+    where
+        F: Future<Output = T> + Send + 'a, // the bounds here should match those in the _phantom field
+    {
+        Self::try_from(future).unwrap_or_else(|future| Self::from(Box::pin(future)))
+    }
+
     /// A wrapper around the inner future's poll function, which we store in the poll_fn field
     /// of this struct.
     fn poll_inner<F: Future>(self: Pin<&mut Self>, cx: &mut Context<'_>) -> Poll<F::Output> {
@@ -238,14 +270,26 @@ impl<'a, T, const STACK_SIZE: usize> StackFuture<'a, T, { STACK_SIZE }> {
     }
 
     /// Determines whether this `StackFuture` can hold a value of type `F`
-    fn has_space_for<F>() -> bool {
+    pub fn has_space_for<F>() -> bool {
         Self::required_space::<F>() <= STACK_SIZE
     }
 
     /// Determines whether this `StackFuture` can hold the referenced value
-    fn has_space_for_val<F>(_: &F) -> bool {
+    pub fn has_space_for_val<F>(_: &F) -> bool {
         Self::has_space_for::<F>()
     }
+
+    /// Determines whether this `StackFuture`'s alignment is compatible with the
+    /// type `F`.
+    pub fn has_alignment_for<F>() -> bool {
+        mem::align_of::<F>() <= mem::align_of::<Self>()
+    }
+
+    /// Determines whether this `StackFuture`'s alignment is compatible with the
+    /// referenced value.
+    pub fn has_alignment_for_val<F>(_: &F) -> bool {
+        Self::has_alignment_for::<F>()
+    }
 }
 
 impl<'a, T, const STACK_SIZE: usize> Future for StackFuture<'a, T, { STACK_SIZE }> {
diff --git a/src/tests.rs b/src/tests.rs
index 728bea9..fe29d82 100644
--- a/src/tests.rs
+++ b/src/tests.rs
@@ -98,6 +98,42 @@ fn test_alignment() {
     assert!(is_aligned(f.as_mut_ptr::<BigAlignment>(), 8));
 }
 
+#[test]
+#[should_panic]
+fn test_alignment_failure() {
+    // A test to make sure we store the wrapped future with the correct alignment
+
+    #[repr(align(256))]
+    struct BigAlignment(u32);
+
+    impl Future for BigAlignment {
+        type Output = Never;
+
+        fn poll(self: std::pin::Pin<&mut Self>, _cx: &mut Context<'_>) -> Poll<Self::Output> {
+            Poll::Pending
+        }
+    }
+    StackFuture::<'_, _, 1016>::from(BigAlignment(42));
+}
+
+#[cfg(feature = "alloc")]
+#[test]
+fn test_boxed_alignment() {
+    // A test to make sure we store the wrapped future with the correct alignment
+
+    #[repr(align(256))]
+    struct BigAlignment(u32);
+
+    impl Future for BigAlignment {
+        type Output = Never;
+
+        fn poll(self: std::pin::Pin<&mut Self>, _cx: &mut Context<'_>) -> Poll<Self::Output> {
+            Poll::Pending
+        }
+    }
+    StackFuture::<'_, _, 1016>::from_or_box(BigAlignment(42));
+}
+
 /// Returns whether `ptr` is aligned with the given alignment
 ///
 /// `alignment` must be a power of two.
@@ -142,3 +178,10 @@ fn try_from() {
         Err(big_future) => assert!(StackFuture::<_, 1500>::try_from(big_future).is_ok()),
     };
 }
+
+#[cfg(feature = "alloc")]
+#[test]
+fn from_or_box() {
+    let big_future = StackFuture::<_, 1000>::from(async {});
+    StackFuture::<_, 32>::from_or_box(big_future);
+}