entity references in xsl:message content

Why does:

<xsl:message terminate="no">&lt;element attribute=&quot;value&quot;&gt;</xsl:message>

output:

&lt;element attribute="value"&gt;

instead of (what I intend):

<element attribute="value">

or even (consistent interpretation of entity references)

&lt;element attribute=&quot;value&quot;&gt;

That is, shouldn't xsl:message serialize it as either text (my
preference) or xml (also reasonable)?  Should I specify
disable-output-escaping="yes" somewhere within xsl:message?

In case it matters, I'm running Saxon 8.3 with these declarations:

<xsl:stylesheet version="2.0" xmlns:xsl="http://www.w3.org/1999/XSL/Transform">
<xsl:output method="text"/>

Thanks,
-- 
Kevin