So your favorite pet has been a part of your family for years but has finally passed on. Would you be willing to pay big bucks to clone your pet?

A Hollywood businessman is paying $310,000 to clone his two dogs. Peter Onruang says Wolfie, a terrier-schnauzer mix, was more than just a pet to him -- she was "like a daughter." She died two years ago at age 15. Her sister, who also died, is Bubble. But Onruang plans to bring them back to life. After doing some research, he found a South Korean biotechnology company called RNL Bio, that can and will clone animals. Onruang saved his dogs' stem cells and then started HollywoodPaintball.com so he could earn and save the $310,000 the clonings would cost. The new dogs will look identical to his dead dogs, and have similar dispositions and he could end up with several of them.

Do you think cloning man's best friend is going to far?