Hook or function to upload media via url

I am working on image aggregation site. Is there a wordpress hook or function to upload media especially image if a url is provided to it? Rest I can do with wp_handle_upload function.

Thanks

See media_handle_sideload in Codex:

$url = "http://s.wordpress.org/style/images/wp3-logo.png";
$tmp = download_url( $url );
$post_id = 1;
$desc = "The WordPress Logo";

// Set variables for storage
// fix file filename for query strings
preg_match('/[^\?]+\.(jpg|JPG|jpe|JPE|jpeg|JPEG|gif|GIF|png|PNG)/', $file, $matches);
$file_array['name'] = basename($matches[0]);
$file_array['tmp_name'] = $tmp;

// If error storing temporarily, unlink
if ( is_wp_error( $tmp ) ) {
    @unlink($file_array['tmp_name']);
    $file_array['tmp_name'] = '';
}

// do the validation and storage stuff
$id = media_handle_sideload( $file_array, $post_id, $desc );

// If error storing permanently, unlink
if ( is_wp_error($id) ) {
    @unlink($file_array['tmp_name']);
    return $id;
}

$src = wp_get_attachment_url( $id );