Serializing Novellas?

I'm considering trying to serialize a novella I wrote. It's 23,000 words, so it's too short for book publishers and too long for most magazines, especially since I haven't been published before.

I've been writing a sequel to my novella, and I'm going to add it on as a part 2 when I'm finished, which will bring the novella up to at least 50,000-60,000 words. So here's my question: Is it possible to serialize my novella and then pursue publication of it combined with the part 2 in novel format? I read in the 2003 Writer's Market that this is a good idea but now that it's 2004 things could have changed so I need to know. Thank you in advance for any help you can give me!

I've written a novella myself.
I thought of turning it into a novel, but haven't gotten around to it...
I'm not sure what will work or not, I guess you'd have to do it and just give it a shot, you know.

Novellas do seem to be a tough sell themselves, I wish I new what to do with mine. Writing part 2 is an interesting thought. In your cover letter, you could explain to them what you've done and they can make the decision about how to format it I suppose.

Hope that someone else has a better suggestion for ya !

I'm going to submit it to Elysian Fiction. After three months I'm even allowed to publish it with other magazines, and they only take first electronic rights.