Replace Query? Possible?

Is it possible to make a replace query in SQL?
So Find What, Replace With
I have a table with email addresses. But now for more than 500 people it must be changed from user@.company.nl to user@.COMPANY2.nl
Is this possible?
Thanks in advance!Sure: Check out REPLACE in BOL.|||I can't find it. Thanks anyway. But is it also possible with a query?

Can somebody give me and example? ThX!!|||From BOL:

REPLACE
Replaces all occurrences of the second given string expression in the first string expression with a third expression.

Syntax
REPLACE ( 'string_expression1' , 'string_expression2' , 'string_expression3' )

Arguments
'string_expression1'

Is the string expression to be searched. string_expression1 can be of character or binary data.

'string_expression2'

Is the string expression to try to find. string_expression2 can be of character or binary data.

'string_expression3'

Is the replacement string expression string_expression3 can be of character or binary data.

Return Types
Returns character data if string_expression (1, 2, or 3) is one of the supported character data types. Returns binary data if string_expression (1, 2, or 3) is one of the supported binary data types.

Examples
This example replaces the string cde in abcdefghi with xxx.

SELECT REPLACE('abcdefghicde','cde','xxx')
GO

Here is the result set:

----
abxxxfghixxx
(1 row(s) affected)|||ThX mate. I will try to make a good one now.|||I got it, ThX!

For example:

SELECT REPLACE(email_address, 'Pedro.nl', 'Pedro.com') from crm5.email|||Hmmm, I was to early. It doens't change anything in the colum.|||Now i got it.

This is the query i want:

Update crm5.email
SET email_address =REPLACE(email_address, 'Company.nl', 'Pedro.com')
from crm5.email|||You will have to write a update query

some thing like
update crm5.email
set email_address = REPLACE(email_address, 'Pedro.nl', 'Pedro.com')