I was flipping through the May issue of Parents Magazine yesterday and found a little snippet that mentioned a new washable suit from The Limited. Parents reports it looked great after a washing, which consisted of a gentle cold cycle in the washer and a low-heat cycle in the dryer. The suit cost $188 for the jacket and $98 for the pants, for a total of $296. Pricey, but not if it holds up to repeated washing and saves trips to the dry cleaners. It's also nice that you can buy it in separates. I'm definitely going to check it out the next time I need a new suit.
I couldn't find a picture of the suit on The Limited's web site, but click over and you'll find a link to a $30 off $100 purchase coupon (it's at the bottom right - unfortunately, it expires tomorrow, May 4). If you do want to buy the full suit, print two coupons, and split your purchase up. Use one coupon on the jacket, and buy something very inexpensive so you can use the other coupon to buy the pants.
Full disclosure: I'm not an affiliate of The Limited, I just thought this was intriguing - especially since I wear suits!