Overstock has the Chai Microsuede Sofa Bed for a cheap $419.99 (reg. $699.00).

Constructed of a tubular steel frame with chromed legs, the Chai an be folded as a couch, bed, or other combinations. Easy-to-clean microsuede upholstery in chai.

COUPON ALERT! Overstock Coupons
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Take $5 off $100, expires 6/30
Take $15 off $200, expires 6/30
Take $8 off $125 (new customers only), expires 6/30
Get $1 shipping on all furniture, expires 6/22