asterisk users - May 2007 - SIP OPTIONS triggering some action in case of no reply

Hi,

Is it possible to implement some kind of alarmist triggering some 
action, by sending SIP OPTIONS messages regularly to check that other 
peer is still online?
I'm using Asterisk version 1.2.11 which I know it doesn't have any SNMP 
module, just 1.4 branch is being developing one; but is it any other way 
in Asterisk 1.2 to trigger some action in case of failure of SIP OPTIONS 
response?

Regards,
Ricardo.