"Wrapping" text

I'm trying to "wrap" text on a cylindrical part.  I need to rotate the text 90 degrees to match the orientation of the part, and I found to do that, attach the text to a line placed in the sketch.  When I proceed to the wrap feature, I get the message, "The Wrap feature cannot be created from intersecting or open contours.  I tried deleting the line, then got another message, "Sketch text update failed."

SolidworksSolidworks 2013 Beta