Gravitational Lens Time Delays and Gravitational Waves
  Using Fermat's principle, we analyze the effects of very long wavelength gravitational waves upon the images of a gravitationally lensed quasar. We show that the lens equation in the presence of gravity waves is equivalent to that of a lens with different alignment between source, deflector, and observer in the absence of gravity waves. Contrary to a recent claim, we conclude that measurements of time delays in gravitational lenses cannot serve as a method to detect or constrain a stochastic background of gravitational waves of cosmological wavelengths, because the wave-induced time delay is observationally indistinguishable from an intrinsic time delay due to the lens geometry. 
J. Frieman, D. Harari, and G. Surpi