Index: wp-admin/import/wordpress.php
===================================================================
--- wp-admin/import/wordpress.php	(revision 5098)
+++ wp-admin/import/wordpress.php	(working copy)
@@ -290,6 +290,11 @@
 				if ( $postmeta) { foreach ($postmeta as $p) {
 					$key   = $this->get_tag( $p, 'wp:meta_key' );
 					$value = $this->get_tag( $p, 'wp:meta_value' );
+
+					$value = maybe_unserialize(stripslashes($value));
+					if ( is_string($value) )
+						$value = addslashes($value);
+
 					add_post_meta( $post_id, $key, $value );
 				} }