Is it possible to create a EJB3.1 Timer programmatically with a custom timeout method ?

Basically I am looking at a complete scheduler implementation.

Use case : The application stores schedule information in a proprietary format(possibly in a DB or as bunch of XML configurations).

1) Read schedules configuration from XML. Create a ScheduleExpression instance corresponding to the XML configuration.

2) The implementation class(containing timeout method) is configured in the XML.

3) Upon schedule timeout, I would like to invoke method 'X' of an instance of Class 'Y'.

The application contains bunch of schedules.I will be happy if i don't have to create a separate timer instance for each schedule.