How to limit by Timeout when opening URL ?

$query = "http://kurapa.com/api/?lic=" . $license_key . "&i=" . $ipaddress;
$url = parse_url($query);
$host = $url["host"];
$path = $url["path"] . "?" . $url["query"];
$timeout = 1;
$fp = fsockopen ($host, 80, $errno, $errstr, $timeout)
    or die('Can not open connection to server.');
if ($fp)
{
  fputs ($fp, "GET $path HTTP/1.0 Host: " . $host . " ");
  while (!feof($fp))
  {
    $buf .= fgets($fp, 128);
  }
  $lines = split(" ", $buf);
  $data = $lines[count($lines)-1];
  fclose($fp);
} else {
  # enter error handing code here
}
echo $data;