Make a circular badge with a border curl over using only CSS?

Question

Is it possible to make a badge curl over like the image below using only CSS?

The text must stay under the curl and gradient as below and the text should be selectable.

JS fiddle: http://jsfiddle.net/jitendravyas/vVeME/1/

Answer 1

Well this is the best I could do :P

http://jsfiddle.net/ree2Z/

Of course it won't work on anything other than a white background, but it's close. XD