First-language research suggests that new words, after initial episodic-memory encoding, are consolidated and hence become lexically integrated. We asked here if lexical consolidation, about word forms and meanings, occurs in a second language. Italian–English sequential bilinguals learned novel English-like words (e.g., apricon, taught to mean “stapler”). fMRI analyses failed to reveal a predicted shift, after consolidation time, from hippocampal to temporal neocortical activity. In a pause-detection task, responses to existing phonological competitors of learned words (e.g., apricot for apricon) were slowed down if the words had been learned two days earlier (i.e., after consolidation time) but not if they had been learned the same day. In a lexical-decision task, new words primed responses to semantically-related existing words (e.g., apricon-paper) whether the words were learned that day or two days earlier. Consolidation appears to support integration of words into the bilingual lexicon, possibly more rapidly for meanings than for forms.