Drawing text on a sphere

Folks,

I am looking to draw text on the surface of a sphere. Just to be clear, I want the text to be part of the sphere, not guiText.

I am theorizing that I may have to draw on a texture and then wrap it around the sphere, but I am hoping there is a better way, or, at least, someone might have some hints/code to share to help me on my way!

Does this help?

http://blog.almostlogical.com/2010/08/20/adding-text-to-texture-at-runtime-in-unity3d-without-using-render-texture/