Add class if li contains certain text

HTML

<div class="svin">
    <li>item one</li>
    <li>item two</li>
    <li class="number3">item three</li>
</div>

CSS

.hilite {
    background: #ddf;
}

JavaScript

$(function(){
    $('svin').each(function(){
        var $li = $(this);
        if ($li.is(":contains('two')")) {
            $li.addClass('hilite');
        }
    });
});