In a medium saucepan over medium high heat, combine pomegranate juice, sugar and lemon juice.
Bring to a boil and then reduce heat to a simmer, stirring occasionally.
Simmer for 15 minutes, or until mixture has reduced to about half. Be careful not to overcook or it will become a hard, sticky texture.
Store in an airtight container in the refrigerator for up to six months.