How do I align a block of text into columns?

For instance, let's say I have the following block of code in a buffer:

pattern TTF_STYLE_NORMAL = #{const TTF_STYLE_NORMAL} pattern TTF_STYLE_BOLD = #{const TTF_STYLE_BOLD} pattern TTF_STYLE_ITALIC = #{const TTF_STYLE_ITALIC} pattern TTF_STYLE_STRIKETHROUGH = #{const TTF_STYLE_STRIKETHROUGH} 

I want to convert it into:

pattern TTF_STYLE_NORMAL = #{const TTF_STYLE_NORMAL} pattern TTF_STYLE_BOLD = #{const TTF_STYLE_BOLD} pattern TTF_STYLE_ITALIC = #{const TTF_STYLE_ITALIC} pattern TTF_STYLE_STRIKETHROUGH = #{const TTF_STYLE_STRIKETHROUGH} 

I need some way of saying align this block into columns divided by the = character. Ideally, I'd like to be able to do the same thing with multiple delimiter characters, like splitting on a ->.

How could I accomplish this?

If there's a minor mode for it - great! Code samples welcome also.

Thanks!