XML : python xml elementtree wrap text by number of characters

I'm wondering in xml elementtree how to wrap the text?

For instance, I have the following text

  4324OO234324O234O32O423423OO23O432O4OO23O4O32O423O423O4O234OO234234O234OO324O234    

And I need to make sure that it wraps the text for every 10 characters e.g. However, I also need to preserve the tabs/whitespace that is happening after each line.

  <mydata>          4324OO2343          24O234O32O          423423OO23          O432O4OO2          3O4O32O42          3O423O4O2          34OO234234          O234OO324          O234  </mydata>    

Any idea of any easy way to do this in python 2.5.2?