Self invoking function after initial trigger, utilizing setTimeouts

gistfile1.js

var activeCounter = 0,
		$acitivityMsgs = $('.progress-bar').find('.message'),
		$activeMsg =  $acitivityMsgs.filter('.active'),
		totalMessages = $acitivityMsgs.length,
		activityTimer = 5000;

function activityAdvance(){
	if (activeCounter < totalMessages-1){
		$activeMsg = $activeMsg.fadeOut('slow').removeClass('active').next().fadeIn('fast').addClass('active');
		// activeCounter = $activeMsg.index('.message') + 1;
		activeCounter += 1;
		var timeout = setTimeout(function(){ activityAdvance(); clearTimeout(timeout); }, activityTimer);
	} else {
		$activeMsg.fadeOut('slow').removeClass('active')
		$activeMsg = $acitivityMsgs.eq(0).fadeIn('fast').addClass('active');
		activeCounter = 0;
		var timeout = setTimeout(function(){ activityAdvance(); clearTimeout(timeout); }, activityTimer);
	}
}

setTimeout(function(){
	activityAdvance();
},activityTimer);