diff --git a/lib/ansible/cli/__init__.py b/lib/ansible/cli/__init__.py
index 77d8543b380..4dc565461f2 100644
--- a/lib/ansible/cli/__init__.py
+++ b/lib/ansible/cli/__init__.py
@@ -205,6 +205,10 @@ class CLI(object):
                                   "and become arguments ('--become', '--become-user', and '--ask-become-pass')"
                                   " are exclusive of each other")
 
+    @staticmethod
+    def expand_tilde(option, opt, value, parser):
+        setattr(parser.values, option.dest, os.path.expanduser(value))
+
     @staticmethod
     def base_parser(usage="", output_opts=False, runas_opts=False, meta_opts=False, runtask_opts=False, vault_opts=False,
         async_opts=False, connect_opts=False, subset_opts=False, check_opts=False, diff_opts=False, epilog=None, fork_opts=False):
@@ -221,11 +225,12 @@ class CLI(object):
         if runtask_opts:
             parser.add_option('-i', '--inventory-file', dest='inventory',
                 help="specify inventory host file (default=%s)" % C.DEFAULT_HOST_LIST,
-                default=C.DEFAULT_HOST_LIST)
+                default=C.DEFAULT_HOST_LIST, action="callback", callback=CLI.expand_tilde, type=str)
             parser.add_option('--list-hosts', dest='listhosts', action='store_true',
                 help='outputs a list of matching hosts; does not execute anything else')
             parser.add_option('-M', '--module-path', dest='module_path',
-                help="specify path(s) to module library (default=%s)" % C.DEFAULT_MODULE_PATH, default=None)
+                help="specify path(s) to module library (default=%s)" % C.DEFAULT_MODULE_PATH, default=None,
+                action="callback", callback=CLI.expand_tilde, type=str)
             parser.add_option('-e', '--extra-vars', dest="extra_vars", action="append",
                 help="set additional variables as key=value or YAML/JSON", default=[])
 
@@ -239,8 +244,8 @@ class CLI(object):
             parser.add_option('--ask-vault-pass', default=False, dest='ask_vault_pass', action='store_true',
                 help='ask for vault password')
             parser.add_option('--vault-password-file', default=C.DEFAULT_VAULT_PASSWORD_FILE,
-                dest='vault_password_file', help="vault password file")
-
+                dest='vault_password_file', help="vault password file", action="callback",
+                callback=CLI.expand_tilde, type=str)
 
         if subset_opts:
             parser.add_option('-t', '--tags', dest='tags', default='all',
diff --git a/lib/ansible/executor/playbook_executor.py b/lib/ansible/executor/playbook_executor.py
index 4e77838559c..cf9b6a02902 100644
--- a/lib/ansible/executor/playbook_executor.py
+++ b/lib/ansible/executor/playbook_executor.py
@@ -25,6 +25,7 @@ from ansible import constants as C
 from ansible.errors import *
 from ansible.executor.task_queue_manager import TaskQueueManager
 from ansible.playbook import Playbook
+from ansible.plugins import module_loader
 from ansible.template import Templar
 
 from ansible.utils.color import colorize, hostcolor
@@ -46,6 +47,12 @@ class PlaybookExecutor:
         self._options          = options
         self.passwords         = passwords
 
+        # make sure the module path (if specified) is parsed and
+        # added to the module_loader object
+        if options.module_path is not None:
+            for path in options.module_path.split(os.pathsep):
+                module_loader.add_directory(path)
+
         if options.listhosts or options.listtasks or options.listtags or options.syntax:
             self._tqm = None
         else: