diff --git a/src/img2pdf.py b/src/img2pdf.py
index 96de01e..e1df8e7 100755
--- a/src/img2pdf.py
+++ b/src/img2pdf.py
@@ -826,7 +826,9 @@ class pdfdoc(object):
             elif color == Colorspace.CMYK or color == Colorspace["CMYK;I"]:
                 iccpdict[PdfName.N] = 4
             elif color == Colorspace.P:
-                raise Exception("Cannot have Palette images with ICC profile")
+                # Only the png format can have an icc profile as well as a
+                # color palette. A png palette is always RGB.
+                iccpdict[PdfName.N] = 3
             colorspace = [PdfName.ICCBased, iccpdict]
 
         # either embed the whole jpeg or deflate the bitmap representation