Click event not working after replaceWith

Click event not working after replaceWith

I have the following HTML:
 
  1.      <div class="content"><button class="showalert">Show Alert</button></div>
         <button class="blaat">Test button</button>
 
With this jQuery code:
 
  1.  $('.blaat').click(function() {
      $('.showalert').replaceWith('<button class="showalert" name="test">Show New Alert</button>');
     });


  2.  $('.showalert').click(function() {
      alert('aaa');
     });


When i start with pressing on the 'Show alert' button i get prompted with an alert message like it should.
After that when i press on the other button 'Test button', it replaces the 'Show Alert' button with a new one.
 
When i press on the 'Show New Alert' button i expect it to also show an alert message. But for some reason it isn't responding to any click() events....
 
Is this a bug? Or am i doing something wrong??