Researchers have argued that "job-embedded" professional learning is the most valuable model for teachers (Joyce & Showers, 2002). But there is little or no corresponding literature regarding job-embedded professional learning for literacy coaches. In this paper, the authors offer an example of one such model, the Coach-to-Coach Cycle, which has proven helpful to their own professional growth and development as coaches and which may support other coaches as well. Using transcribed snippets of coach-to-coach dialogue following a coaching post-observation conference with a teacher, the authors reflect on the successes and challenges facing coaches who wish to become co-investigators with teachers into their literacy instruction.