Using delimiter "space" in making a link with a custom tag of <url>

PHP
1 
[b]code[/b]
$myString="I often visit <url>www.sitepoint.com/forums</url> and love it.";

$myString=preg_replace('/<url>(.*?)<\\/url>/s', 
'<a href="http://$1">http://$1</a>',
 $myString); 

echo $myString;

[b]result[/b]

I often visit 
<a href="http://[COLOR="blue"]www.sitepoint.com/forums[/COLOR]">[COLOR="Red"]http://www.sitepoint.com/forums[/COLOR]</a> 
and love it.

The code above works fine with the result above.

I like to make it like the following.

if there is any space between <url> and </url>, the string which is after the first space will be the link title.

The would-be code and my target result will be like the following.

[b]would-be code[/b]

$myString="I often visit 
<url>[COLOR="blue"]www.sitepoint.com/forum[SIZE="7"]s[/SIZE][/COLOR] [COLOR="Red"][SIZE="7"]s[/SIZE]itepointForums[/COLOR]</url> 
and love it.";

$myString=preg_replace('/<url>(.*?)<\\/url>/s', 
'<a href="http://$1">[COLOR="Red"]$afterSpace[/COLOR]</a>', $myString); 

[b]target result[/b]

I often visit 
<a href="http://[COLOR="Blue"]www.sitepoint.com/forums[/COLOR]">[COLOR="red"]sitepointForums[/COLOR]</a> 
and love it.
2 
$myString="I often visit <url>www.sitepoint.com/forums Sitepoint Forums</url> and love it.";

$myString=preg_replace('/<url>(.*?) (.*?)<\\/url>/s', 
'<a href="http://$1">$2</a>',
 $myString); 

echo $myString;


// I often visit <a href="http://www.sitepoint.com/forums">Sitepoint Forums</a> and love it.

Had to escape the / here <\/url>

3

Thank you very much, Cups.
Your code works fine.