Using Replace command in TEXT datatype column.

I am trying to replace a preset charcter string with 'formfeed+linefeed' in a TEXT field.  This ata was loaded via SQL and lost it's formatting, so I have decided to try to reinsert the carriage returns by replacing a character string that will be inserted into the SQL in place of the carriage returns.

select replace(ldtext, '9988899', char(13)+char(10)) from longdescription where ldkey in (select ldkey from equipment where eqnum = 'EC-BFP-004')

Error: Microsoft SQL Server:8116[Microsoft][ODBC SQL Server Driver][SQL Server]Argument data type text is invalid for argument 1 of replace function.Microsoft SQL Server:8180[Microsoft][ODBC SQL Serv

Any ideas?

Thanks.