Is it possible to engrave an outline text?

Hello all. I have a question that I couldn't find the answer to.  I'm trying to engrave the outline of a text on a part. I have the text on the part and can extrude boss or cut, but rather, I want to engrave the outline. I'm not sure if i'm using the correct terminology, but what i'm after is like a ball end mill cutting into the surface and then tracing the outline of the text (or other shape).  The resulting feature should be like a rounded bottom channel that follows the lines of the sketch.

Thanks,

Brandon

SolidworksParts And Features