Resizable not working, when change text

Resizable not working, when change text

Hi all,
I'm doing resizable html divs in one root div. The resizable action stop working, if I change the html code inside the div. Here is an example:

<html>
<head>

  <link type="text/css" href="http://jqueryui.com/latest/themes/base/ui.all.css" rel="stylesheet" />
  <script type="text/javascript" src="http://jqueryui.com/latest/jquery-1.3.2.js"></script>
  <script type="text/javascript" src="http://jqueryui.com/latest/ui/ui.core.js"></script>
  <script type="text/javascript" src="http://jqueryui.com/latest/ui/ui.resizable.js"></script>


  <script type="text/javascript">
  $(document).ready(function(){
    $("#change").click(function(){
        $(".item").text("Hi");
      });
      $(".item").resizable();
  });
  </script>

</head>

<body>

<div id="viewarea" style="border: 1px solid black; width: 400px; height: 400px">
   <div class="item" style="border: 1px solid red; width: 40px; height: 40px">Hello</div>
</div>
<input id="change" type="button" value="change">


</body>
</html>


Any suggestion, what I'm doing wrong?