Python command line: editing mistake on previous line?

When using python via the command line, if I see a mistake on a previous line of a nested statement is there any way to remove or edit that line once it has already been entered?

e.g.:

>>> file = open("file1", "w")
>>> for line in file:
...     parts = line.split('|')   <-- example, I meant to type '\' instead
...     print parts[0:1]
...     print ";"
...     print parts[1:]

so rather than retyping the entire thing all over to fix one char, can I go back and edit something in hindsight? I know I could just code it up in vim or something and have a persistent copy I can do anything I want with, but I was hoping for a handy-dandy trick with the command line.

-- thanks!