Detecting the stochastic gravitational wave background using pulsar   timing
  The direct detection of gravitational waves is a major goal of current astrophysics. We provide details of a new method for detecting a stochastic background of gravitational waves using pulsar timing data. Our results show that regular timing observations of 40 pulsars each with a timing accuracy of 100 nano-seconds will be able to make a direct detection of the predicted stochastic background from coalescing black holes within five years. With an improved pre-whitening algorithm, or if the background is at the upper end of the predicted range, a significant detection should be possible with only 20 pulsars. 
Fredrick A. Jenet, George B. Hobbs, K.J. Lee, Richard N. Manchester