Can I use jQuery to easily shift li elements up or down?

I have a menu like this:

    <ul id="menu" class="undecorated"> 
        <li id="menuHome"><a href="/">Home</a> </li> 
        <li id="menuAbout"><a href="/Usergroup/About">About</a> </li> 
        <li id="menuArchives"><a href="/Usergroup/Archives">Archives</a> </li> 
        <li id="menuLinks"><a href="/Usergroup/Links">Links</a> </li> 
    </ul> 

Is there a simple way that I can use jquery to re-order elements? I'm imagining something like this:

$('#menuAbout').moveDown().moveDown()

But any other way of achieving this is appreciated.