Index: wp-admin/options-reading.php
===================================================================
--- wp-admin/options-reading.php	(revision 3764)
+++ wp-admin/options-reading.php	(working copy)
@@ -30,7 +30,7 @@
 	</label>
 <ul>
 	<li><?php printf(__('Show this page on the front page: %s'), wp_dropdown_pages("name=page_on_front&echo=0&selected=" . get_option('page_on_front'))); ?></li>
-	<li><?php printf(__('Show the latest posts on this page: %s'), wp_dropdown_pages("name=page_for_posts&echo=0&selected=" . get_option('page_for_posts'))); ?></li>
+	<li><?php printf(__('Show the latest posts on this page: %s'), wp_dropdown_pages("name=page_for_posts&echo=0&show_option_none=".__('- Select -')."&selected=" . get_option('page_for_posts'))); ?></li>
 </ul>
 <?php if ( 'page' == get_option('show_on_front') && get_option('page_for_posts') == get_option('page_on_front') ) : ?>
 <div id="front-page-warning" class="updated fade-ff0000">
Index: wp-includes/template-functions-post.php
===================================================================
--- wp-includes/template-functions-post.php	(revision 3764)
+++ wp-includes/template-functions-post.php	(working copy)
@@ -383,7 +383,7 @@
 		parse_str($args, $r);
 
 	$defaults = array('depth' => 0, 'child_of' => 0, 'selected' => 0, 'echo' => 1,
-		'name' => 'page_id');
+		'name' => 'page_id', 'show_option_none' => '');
 	$r = array_merge($defaults, $r);
 	extract($r);
 
@@ -392,6 +392,8 @@
 
 	if ( ! empty($pages) ) {
 		$output = "<select name='$name'>\n";
+		if($show_option_none)
+				$output .= "\t<option value=''>$show_option_none</option>\n";
 		$output .= walk_page_dropdown_tree($pages, $depth, $r);
 		$output .= "</select>\n";
 	}