xsl:value-of select : how to make some tags printed an

Hi, 
Could anyone help me with the following?

Suppose I have the following XML:

<book>
   <title>My first book</title>
   <chapter>
     <nr>1</nr>
     <text> This is the <sw>content</sw> of my first book, where
<sub>I</sub> would like to leave in the sub-tag, but leave out the
sw-tag.</text>
   </chapter>
</book>

Is it possible to make an xsl statement that would print the content of
the <text> tag and all sub tags (<xsl:value of select="text"/>) but then
somehow leave the html formatting tags <sub> in the output? So:
This is the content of my first book, where <sub>I</sub> would like to
leave in the sub-tag, but leave out the sw-tag.
instead of:
This is the content of my first book, where I would like to leave in
the sub-tag, but leave out the sw-tag.

Thanks for your help.
Judith


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