Can anyone tell me how to shrink (not just block but really shrink) a wool sweater so that it is less baggy, but still just as long in the body and sleeves?

My favorite sweater is now way too big around. (it's an XL, and these days i really need a M) But the length is perfect.

Should I just wash it and throw it in the dryer? Pull on the body and sleeves every so often as it tumble-dries so they don't shrink lengthwise?

Seems like I've gone through life trying NOT to shrink wool stuff, and now I need to know how to really do it!