Create word elements from a string

Is there a function in XSLT 1.1 that will extract words from a string?
I'd like to be able to take <text>Jill ran up the hill.</text> and get
the following:

<words>
  <word>Jill</word>
  <word>ran</word>
  <word>up</word>
  <word>the</word>
  <word>hill.</word>
</words>

Thanks,
Larry