Cool, but that'll only work once, and it'll waste LOTS of cpu cycles. How about this:

while (1) {
  sleep(50); 
# If it's a windows box, give yourself a little extra time.  Trust me.
+ 
  my ($min, $hour) = (localtime(time))[1,2];
  if ($hour == 11 && $min == 0) {
    # Do your 11:00 stuff
  }
}
[download]

Note that cron is the right answer. We're just having some fun. :)