if your wanting to use jQuery for this, try the following code.
$('select option[value="1"]').attr("selected",true);
Updated:
Following a comment from Vivek, correctly pointed out steven spielberg wanted to select the option via its Text value.
Here below is the updated code.
$('select option:contains("it's me")').prop('selected',true);
You need to use the :contains(text)
selector to find via the containing text.
Also jQuery prop offeres better support for Internet Explorer when getting and setting attributes.
A working example on JSFiddle
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