Screenplay to Novel? Dare I?

My first piece of horror was a screenplay called THE SHROUD. Currently, it's contending for a semifinalist position in the 2005 Fade In competition. Whilst I'm waiting for that, I'm considering novelizing the script. But how much work goes into turning a screenplay into a novel?

I can't imagine the headache that would go into a novel adaptation of someone else's script. But, maybe adapting my own work into a different format can prove less difficult...maybe even rewarding...heck, could it be fun?

Since I've had the idea, I've started looking at my screenplays very differently. Now, instead of a full story, they're just a lengthy outline-roughly 20% of the entire novel already down on paper. What now?

Break down existing acts, separate acts into chapters. Add scenes. Refine and define existing characters while adding a few more to help drive the story forward. It's funny, I typically spend so much time planning out a piece, that by the time I'm done planning, I have way more information than I can ever cram into a single screenplay. Much to my excitement, I can now add it back in.

I welcome (beg for) comments from any of you who have tried this. I'd love your input.