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Re:Pry: A better Ruby REPL by dpritchett on Sunday April 24, 2011 @07:18PM (#2479868)
With IDLE a quick Ctrl-P will bring up the entire previous block input, including indents, all at once.
Re:Pry: A better Ruby REPL by wewyor on Sunday April 24, 2011 @07:36PM (#2479893)
Indents are included with a simple up arrow with ipython, it also works if you are doing a backwards search (C-r), it just doesn't have the nice formatting you get when you first write the function.

Idle is a bit easier to edit the function though.