Towers of Hanoi solver without recursion

hanoi.py

import sys
import itertools

no_of_disks = int(raw_input("No. of disks: ")) if len(sys.argv) < 2 else int(sys.argv[1])

def disk_to_move(move_number):
	diff = move_number ^ (move_number + 1)
	return bin(diff)[2:].count("1") - 1

def generate_move(disk_to_move, disk_states):
	destination_peg = 0
	leftwards_peg = (disk_states[disk_to_move]+2)%3
	rightwards_peg = (disk_states[disk_to_move]+1)%3
	smaller_disks = disk_states[:disk_to_move]
	origin_peg = disk_states[disk_to_move]

	if len(disk_states) % 2 == 0:
		if rightwards_peg in smaller_disks:
			destination_peg = leftwards_peg
		else:
			destination_peg = rightwards_peg
	else:
		if leftwards_peg in smaller_disks:
			destination_peg = rightwards_peg
		else:
			destination_peg = leftwards_peg
	
	return (disk_to_move, origin_peg, destination_peg)

disk_states = [0]*no_of_disks

print("Peg A All")

for move_number in iter(itertools.count().next, 2**no_of_disks - 1):
	disk, from_peg, to_peg = generate_move(disk_to_move(move_number), disk_states)
	disk_states[disk] = to_peg
	peg_names = ["A", "B", "C"]
	print("Move "+str(move_number+1)+" - "+"Disk "+str(disk+1)+": Peg "+peg_names[from_peg]+" -> Peg "+peg_names[to_peg])