Parallel MR imaging is an effective approach to reduce MR image acquisition time. Non-uniform subsampling allows one to tailor the subsampling scheme for improved image quality at high acceleration factors. However, non-uniform subsampling precludes fast reconstruction schemes such as SENSE, and is more likely to require a regularized solution than reconstruction of uniformly subsampled data demands. This means that one needs to choose a good regularization parameter, typically requiring multiple expensive system solves. Here, we present an efficient LSQR-Hybrid algorithm which simultaneously addresses the need for rapid regularization parameter selection and fast reconstruction. This algorithm can reconstruct non-uniformly subsampled parallel MRI data, with automatic regularization and good image quality, in a time competitive with Cartesian SENSE.