An exercise device with a crank housing supporting a pedal crank having a pair of opposing pedals that are pivotally mounted to the pedal crank. A first strut extends from the crank housing and is jointed to a second strut by a coupling that selectively allows the struts to rotate relative to each other so that the device may be folded into a planar configuration or extended for use. A cross-member is positioned at the end of each strut to form legs for supporting the pedal crank in an upright position. A tensioner is associated with the crank housing for selectively increasing and decreasing the force needed to turn the pedal crank. A telescoping arm may be used to interconnect the exercise device to a table or seat so that it can be folded and stored under the table or seat, and unstowed and unfolded for easy use.