Over the past few years, we have developed a concept for an evolvable space telescope (EST) that is assembled on orbit in three stages, growing from a 4 × 12-m telescope in Stage 1, to a 12-m filled aperture in Stage 2, and then to a 20-m filled aperture in Stage 3. Stage 1 is launched as a fully functional telescope and begins gathering science data immediately after checkout on orbit. This observatory is then periodically augmented in space with additional mirror segments, structures, and newer instruments to evolve the telescope over the years to a 20-m space telescope. We discuss the EST architecture, the motivation for this approach, and the benefits it provides over current approaches to building and maintaining large space observatories.