"Tags" in textboxes

Hey.. I´ve been trying to write code that replaces a highlighted word/s in a textbox with the click of a button..
For example, "blabla" becomes "<k>blabla<k>"

It is probably a very simple thing to do, I just don´t know how. If anyone could help me it'd be greatly appreciated. :)

VB Code:

Private Sub Command1_Click()
    Text1.Text = Replace(Text1.Text, Mid(Text1.Text, Text1.SelStart + 1, Text1.SelLength), "weeeee")
End Sub

where "weeeee" is the text that replaces the selected text

Try this:

Code:

---

If Text1.SelText <> 0 Then Text1.SelText = "<K>" & Text1.SelText & "<K>"

---