Idiopathic pulmonary hemosiderosis (IPH) is a rare, potentially fatal disease characterized by recurrent diffuse alveolar hemorrhage. Presentation varies, and delay in diagnosis and treatment can result in respiratory complications and increased mortality. It is imperative to consider IPH in the differential of a patient presenting with transfusion-dependent microcytic anemia and concomitant pulmonary symptoms.This case series describes two pediatric patients with persistent severe microcytic anemia despite multiple blood transfusions. Both patients underwent extensive workup for their anemia, and ultimately, their respiratory symptoms led to their diagnosis of IPH. Both were then managed with long-term corticosteroids and had significant clinical improvement.