(function ($) {    
$.fn.simpleSpy = function (limit, interval) {
  // set some defaults
  limit = limit || 4;
  interval = interval || 4000;
  return this.each(function () {
    // 1. setup
      // capture a cache of all the list items
    var $list = $(this),
      items = [], // uninitialised
      currentItem = limit,
      total = 0, // initialise later on
      height = $list.find('> li:first').height();
          
    // capture the cache
    $list.find('> li').each(function () {
      items.push('<li>' + $(this).html() + '</li>');
    });
    
    total = items.length;
    
    // chomp the list down to limit li elements    
    $list.find('> li').filter(':gt(' + (limit - 1) + ')').remove();

    // 2. effect        
    function spy() {
      // insert a new item with opacity and height of zero
      var $insert = $(items[currentItem]).css({
        height : 0,
        opacity : 0,
        display : 'none'
      }).prependTo($list);
      // fade the LAST item out
      $list.find('> li:last').animate({ opacity : 0}, 1000, function () {
        // increase the height of the NEW first item
        $insert.show().animate({ height : height }, 1000).animate({ opacity : 1 }, 1000);

        // AND at the same time - decrease the height of the LAST item
        $(this).animate({ height : 0 }, 1000, function () {
            // finally fade the first item in (and we can remove the last)
            $(this).remove();
        });
      });
        
      currentItem++;
      if (currentItem >= total) {
        currentItem = 0;
      }
        
      // trigger the effect again in 4 seconds
      setTimeout(spy, interval);
    }
    if($list.find('> li').size() >= limit) {
      spy();
    }
  });
};    
})(jQuery);