Knit Motif: Lace Spiral Pattern : Lion Brand Yarn

A friend just sent me this cute spiral knit spiral pattern. I see a set of coasters and/or hotpads in someone's future!
Stitchfinder : Knit Motif: Lace Spiral : Frequently-Asked Questions (FAQ) about Knitting and Crochet : Lion Brand Yarn

Cast on 8 stitches and divide evenly over 4 #5 needles.
Join, taking care not to twist stitches.
Rounds 1 and 2: Knit.
Round 3: [Yo, k1] 8 times. (16 sts)
Round 4: Knit.
Round 5: [Yo, k1] 16 times. (32 sts)
Round 6: [K2, k2tog] 8 times. (24 sts)
Round 7: [Yo, k1, yo, k2tog] 8 times. (32 sts)
Round 8: Knit.
Round 9: [Yo, k1, yo, k1, yo, k2tog] 8 times. (48 sts)
Round 10: [K4, k2tog] 8 times. (40 sts)
Round 11: [(Yo, k1) 3 times, k2tog] 8 times. (56 sts)
Round 12: [K5, k2tog] 8 times. (48 sts)
Round 13: [Yo, k1, yo, k1, yo, k2, k2tog] 8 times. (64 sts)
Round 14: [K6, k2tog] 8 times. (56 sts)
Round 15: [Yo, k1, yo, k1, yo, k3, k2tog] 8 times. (72 sts)
Round 16: [K7, k2tog] 8 times. (64 sts)
Round 17: [Yo, k1, yo, k1, yo, k4, k2tog] 8 times. (80 sts)
Round 18: [K8, k2tog] 8 times. (72 sts)
Round 19: [Yo, k1, yo, k1, yo, k5, k2tog] 8 times. (88 sts)
Round 20: [K9, k2tog] 8 times. (80 sts)
Round 21: [Yo, k1, yo, k1, yo, k6, k2tog] 8 times. (96 sts)
Round 22: [K10, k2tog] 8 times. (88 sts)
Round 23: Purl.
Round 24: Knit.
Round 25: Purl.
Cast off loosely purlwise.
Motif directions reproduced with permission from 150 Knit&Crochet Motifs, Interweave Press, 2011
Sample shown in Wool-Ease.

ABBREVIATIONS / REFERENCES
k = knit	k2tog = knit 2 together
st(s) = stitches	yo = yarn over

I'm going to cast one on using Elmore-Pisgah Peaches and Creme yarn. Updates to follow :)