Repeatable Read - am I understanding this right?

Trying to completely understand SQL Server Isolation Levels - notably REPEATABLE READ.

I have a sproc that starts a transaction and puts a cursor around some data (boo hiss). This can be a fair chunk of data, so can take a while to do.

It will then COMMIT or ROLLBACK.

During this time, before the transaction has been closed, if someone calls a method which causes some of those affected rows to be READ, my understanding is that this method will stall until the first method is complete. They will then be served up the data (as long as a time-out doesn't occur first)

I think I'm right, but question is - am I?!