Fade out text

Sups,
Is there a way to make a text fade out like in Warcraft 3?
Ive thought of this: the text will appear, and then in a timer every specific time, the text color will be changed to a color which is similar to the form's color, one by one till the text color is the same as the form's color and then it seems like the text is fadin out..
Wacha think? how can I do that?

I could probably come up with something like what you want, but there's probably loads (of better) examples on Planet Source Code. :p