This is based on CMS's answer. The question asked for the timer to be restarted on the blur and stopped on the focus, so I moved it around a little:
$(function () {
var timerId = 0;
$('textarea').focus(function () {
clearInterval(timerId);
});
$('textarea').blur(function () {
timerId = setInterval(function () {
//some code here
}, 1000);
});
});