How can I listen for a click-and-hold in jQuery?

I want to be able to fire an event when a user clicks on a button, then holds that click down for 1000 to 1500 ms.

Is there jQuery core functionality or a plugin that already enables this?

Should I roll my own? Where should I start?

var timeoutId = 0;

$('#myElement').on('mousedown', function() {
    timeoutId = setTimeout(myFunction, 1000);
}).on('mouseup mouseleave', function() {
    clearTimeout(timeoutId);
});

Edit: correction per AndyE...thanks!

Edit 2: using bind now for two events with same handler per gnarf

Aircoded (but tested on this fiddle)

(function($) {
    function startTrigger(e) {
        var $elem = $(this);
        $elem.data('mouseheld_timeout', setTimeout(function() {
            $elem.trigger('mouseheld');
        }, e.data));
    }

    function stopTrigger() {
        var $elem = $(this);
        clearTimeout($elem.data('mouseheld_timeout'));
    }


    var mouseheld = $.event.special.mouseheld = {
        setup: function(data) {
            // the first binding of a mouseheld event on an element will trigger this
            // lets bind our event handlers
            var $this = $(this);
            $this.bind('mousedown', +data || mouseheld.time, startTrigger);
            $this.bind('mouseleave mouseup', stopTrigger);
        },
        teardown: function() {
            var $this = $(this);
            $this.unbind('mousedown', startTrigger);
            $this.unbind('mouseleave mouseup', stopTrigger);
        },
        time: 750 // default to 750ms
    };
})(jQuery);

// usage
$("div").bind('mouseheld', function(e) {
    console.log('Held', e);
})

I made a simple JQuery plugin for this if anyone is interested.

http://plugins.jquery.com/pressAndHold/