Changing the names of Statuses

[jlong]

VM 2.0.22a

I was wondering if there is a way to change the name of the order status "Shipped" to "Emailed".  Our webstore products are emailed rather than shipped so it would be nice for our employees to see Emailed rather than Shipped.  Also, when this is changed, will the email also be changed to say emailed when the status is changed?

[jlong]

Forgot to mention:

Joomla v2.5.11
PHP 5.3