ajax settimeout,jQuery Ajax setTimeout JSON

I am using the jQuery AJAX to call JSON service. I am then spitting out the data to .html. I would like 2 things to happen.

1. I want a refresh button to refresh the data, not the whole page.

2. I want a setTimeout or setInterval (which ever works best) to update the data every 5 minutes or so. But refresh the page.

How would I wrap the AJAX in a setTimeout or setInterval or refresh the data using a button and a timer every 5 minutes or so. I know this should be simple but I have not been able to get it to work. Thanks in advance.

Below is my code.

$.ajax({

type: "POST",

url: "/myservice.asmx/WebMethod",

data: "{}",

contentType: "application/json; charset=utf-8",

dataType: "json",

success: function (msg) {

var myval = msg.d;

// $('#jsonstring').html(myval);

var obj = jQuery.parseJSON(myval);

$('#Data1').html(obj.DataOne);

$('#Data2').html(obj.DataTwo);

},

error: function (xhr, ajaxOptions, thrownError) {

alert(xhr.statusText);

alert(xhr.responseText);

alert(xhr.status);

alert(thrownError);

}

});