Most efficient way to escape XML/HTML in C++ string?

I can't believe this question hasn't been asked before. I have a string that needs to be inserted into an HTML file but it may contain special HTML characters. I want to replace these with the appropriate HTML representation.

The code below works but is pretty verbose and ugly. Performance is not critical for my application but I guess there are scalability problems here also. How can I improve this? I guess this is a job for STL algorithms or some esoteric Boost function, but the code below is the best I can come up with myself.

void escape(std::string *data)
{
    std::string::size_type pos = 0;
    for (;;)
    {
        pos = data->find_first_of("\"&<>", pos);
        if (pos == std::string::npos) break;
        std::string replacement;
        switch ((*data)[pos])
        {
        case '\"': replacement = "&quot;"; break;   
        case '&':  replacement = "&amp;";  break;   
        case '<':  replacement = "&lt;";   break;   
        case '>':  replacement = "&gt;";   break;   
        default: ;
        }
        data->replace(pos, 1, replacement);
        pos += replacement.size();
    };
}