Fluids exsolved from mafic melts are thought to be dominantly CO2-H2O S fluids. Curiously, although CO2 vapor occurs in bubbles of mafic melt inclusions (MI) at room temperature (7), the expected accompanying vapor and liquid H2O have not been found. We reheated olivine-hosted MI from Mt. Somma-Vesuvius, Italy, and quenched the MI to a bubble-bearing glassy state. Using Raman spectroscopy, we show that the volatiles exsolved after quenching include liquid H2O at room T and vapor H2O at 150 degrees C. We hypothesize that H2O initially present in the MI bubbles was lost to adjacent glass during local, sub-micrometer-scale devitrification prior to sample collection. During MI heating experiments, the H2O is redissolved into the vapor in the bubble, where it remains after quenching, at least on the relatively short time scales of our observations. These results indicate that (1) a significant amount of H2O may be stored in the vapor bubble of bubble-bearing MI and (2) the composition of magmatic fluids directly exsolving from mafic melts at Mt. Somma-Vesuvius may contain up to 29 wt% H2O.