If you're using SQL Server 2005, wouldn't you do better to search sys.sql_modules?  That's the replacement for syscomments.  The definition column holds all the sql definitions, and is nvarchar(max).

I imagine...

Yeah, the likelyhood of specific search string spanning multiple blocks isn't high, but it can happen.  Syscomments.text is nvarchar(4000), so it's easy to span multiple segments.  We use Nice-Large-Comment-Blocks at...

Well, if you're running SQL Server 2005, you can query sys.sql_modules instead.  Something like the code below works well, because sys.sql_modules is varchar(max).

-- This query returns the Name of the object, and it's entire definition

select...