diff --git a/VERSION b/VERSION
index c37d1232..3f7d43ca 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1!10.6.1
+1!10.7.0
diff --git a/pycloudlib/ec2/instance.py b/pycloudlib/ec2/instance.py
index e928f29f..62ac43db 100644
--- a/pycloudlib/ec2/instance.py
+++ b/pycloudlib/ec2/instance.py
@@ -15,6 +15,7 @@ class EC2Instance(BaseInstance):
     """EC2 backed instance."""
 
     _type = "ec2"
+    ready_timeout = 40  # To keep backwards compatibility (will lower soon)
 
     def __init__(self, key_pair, client, instance, *, username: Optional[str] = None):
         """Set up instance.
diff --git a/pycloudlib/ibm_classic/instance.py b/pycloudlib/ibm_classic/instance.py
index addfa356..9f668abd 100644
--- a/pycloudlib/ibm_classic/instance.py
+++ b/pycloudlib/ibm_classic/instance.py
@@ -285,13 +285,6 @@ def is_started():
         logger.info("Instance %s started", self.name)
         self._instance = self._vs_manager.get_instance(self.id)
 
-    def wait(self, **kwargs):
-        """Wait for instance to be up and cloud-init to be complete."""
-        logger.info("Waiting for instance %s to be ready", self.name)
-        self._wait_for_instance_start(**kwargs)
-        self._wait_for_execute(timeout=180)
-        self._wait_for_cloudinit()
-
     def wait_for_restart(self, old_boot_id):
         """Wait for instance to be restarted and cloud-init to be complete.
 
diff --git a/pycloudlib/instance.py b/pycloudlib/instance.py
index 63a0aa75..e8d234ff 100644
--- a/pycloudlib/instance.py
+++ b/pycloudlib/instance.py
@@ -26,6 +26,7 @@ class BaseInstance(ABC):
     """Base instance object."""
 
     _type = "base"
+    ready_timeout = 10  # Time to wait for instance to be ready after provisioning (in minutes)
 
     def __init__(self, key_pair, username: Optional[str] = None):
         """Set up instance."""
@@ -160,10 +161,23 @@ def _wait_for_instance_start(self, **kwargs):
         detecting when an instance has started through their API.
         """
 
-    def wait(self, **kwargs):
-        """Wait for instance to be up and cloud-init to be complete."""
+    def wait(
+        self,
+        ready_timeout: Optional[int] = None,
+        **kwargs,
+    ):
+        """
+        Wait for instance to be up and cloud-init to be complete.
+
+        Args:
+            ready_timeout (int): maximum time to wait for the instance to be ready for ssh after
+                instance provisioning is complete
+
+        Raises:
+            PycloudlibTimeoutError: If the instance is not ready after the timeout
+        """
         self._wait_for_instance_start(**kwargs)
-        self._wait_for_execute()
+        self._wait_for_execute(timeout=ready_timeout)
         self._wait_for_cloudinit()
 
     def wait_for_restart(self, old_boot_id):
@@ -478,7 +492,7 @@ def _tmpfile(self):
         self._tmp_count += 1
         return path
 
-    def _wait_for_execute(self, old_boot_id=None, timeout: int = 40):
+    def _wait_for_execute(self, old_boot_id=None, timeout: Optional[int] = None):
         """
         Wait until we can execute a command in the instance.
 
@@ -492,9 +506,7 @@ def _wait_for_execute(self, old_boot_id=None, timeout: int = 40):
         """
         self._log.info("_wait_for_execute to complete")
 
-        # Wait 40 minutes before failing. AWS EC2 metal instances can take
-        # over 20 minutes to start or restart, so we shouldn't lower
-        # this timeout
+        timeout = timeout or self.ready_timeout
         start = time.time()
         end = start + timeout * 60
         while time.time() < end:
diff --git a/tests/unit_tests/test_instance.py b/tests/unit_tests/test_instance.py
index 5a01ff1d..4f7884a2 100644
--- a/tests/unit_tests/test_instance.py
+++ b/tests/unit_tests/test_instance.py
@@ -67,9 +67,9 @@ def test_wait_execute_failure(
     ):
         """Test wait calls when execute command fails."""
         instance = concrete_instance_cls(key_pair=None)
-        m_time.side_effect = [1, 1, 2, 40 * 60, 40 * 60 + 1]
+        m_time.side_effect = [1, 1, 2, 10 * 60, 10 * 60 + 1]
         m_execute.side_effect = execute_effect
-        expected_msg = "Instance can't be reached after 40 minutes. Failed to obtain new boot id"
+        expected_msg = "Instance can't be reached after 10 minutes. Failed to obtain new boot id"
         expected_call_args = [mock.call("cat /proc/sys/kernel/random/boot_id", no_log=True)] * 2
 
         with pytest.raises(PycloudlibTimeoutError) as excinfo:
@@ -190,8 +190,8 @@ def test_boot_id_failure(
         """Test wait calls when execute command fails."""
         m_execute.side_effect = execute_side_effect
         instance = concrete_instance_cls(key_pair=None)
-        m_time.side_effect = [1, 1, 2, 40 * 60, 40 * 60 + 1]
-        expected_msg = "Instance can't be reached after 40 minutes. Failed to obtain new boot id"
+        m_time.side_effect = [1, 1, 2, 10 * 60, 10 * 60 + 1]
+        expected_msg = "Instance can't be reached after 10 minutes. Failed to obtain new boot id"
         expected_call_args = [mock.call("cat /proc/sys/kernel/random/boot_id", no_log=True)] * 2
 
         with pytest.raises(PycloudlibTimeoutError) as excinfo: