Internet search giant Yahoo on Monday announced the launch of Watchlist, which will enable users to know when a username of their choice is available to grab.

Users of Watchlist will be able to add up to 5 usernames they want to the list that will be active for up to three years. The company will inform users whenever a username of their choice become available. However the new service is not free. It will cost $1.99 for three years.

After receiving a notification about the availability of a username, a person will have two weeks (14 days) to claim the username.

As the list will be active for up to three years, re-registering on the Watchlist for another three years will cost another $1.99.

Announcing the service, the company stated, "If the username hasn't come up after three years, the user has the option to re-register on the Watchlist for $1.99 for another three years."

Popular usernames may cost a few additional bucks as well as a little more patience.

Watchlist service is a part of Yahoo's July announcement in which it declared that it would distribute recycled usernames that haven't been active for a year.