Viewing (creating) a text bounding box

I created text on a text layer, by simply clicking once with the type tool, and then typing. Now, art a later stage, I'd like to modify the charateristics of this text, as if I'd drawn a text box to write that text into in the first place.

So my question is: How can I / What do I do to convert that text to sit within a text bounding box. (This box will be much larger than the text I already have as this comp has become a mograph, and I've realised I'd like the text to wrap onto the next line, if required)

Thanks for any advice