Interactive zoom and pan

Hello Flash Forum,
I have been checking Flash forums for ideas and suggestions on how to implement an interactive zoom and pan on an image. I would like the user to be able to drag a “magnifying glass” over an image, and then zoom in (or out) on the area in the magnifying glass, using the mouse wheel. How might I go about creating this effect? Or, the easier way, steal someone’s code who has implemented this kind of functionality.

Thanks

eholz1