Can the result of a DATEDIF function be displayed as years and months?

Example

Cell T47 displays 15-Jan-04. The formula in U47 is
=DATEDIF(T47,TODAY(),"y")&DATEDIF(T47,TODAY(),"ym" ). The result is 31 for 3
years and 1 month. Is there any way for the result to say 3 years 1 month?