That's a very good way.
Additionally, if you set the status via de menu (main MSN Messenger window => the drop-down in which you can select your status => More Statuses => Personalized Status... => pick your AUTO IP status => click filter => choose the account from where you'll be requesting the IP). This is in case you don't want others to see your IP.
Of course, I assume you added yourself to your list.
Edit: meh, I just re-read and yeah. Sorry. Meh, but it's another alternative, so I'll leave it here.
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