SQL Server: Parse alphanumeric characters

I needed a function to remove all special characters with existing spaces to be removed in any given string. Here is the function to accomplish it.

CREATE FUNCTION [dbo].[UDF_ParseAlphaChars]
    (
        @string VARCHAR(8000)
    )
RETURNS VARCHAR(8000)
            AS
    BEGIN
    DECLARE    @IncorrectCharLoc SMALLINT
        SET @IncorrectCharLoc = PATINDEX('%[^0-9A-Za-z]%', @string)
    WHILE @IncorrectCharLoc > 0
        BEGIN
        SET @string = STUFF(@string, @IncorrectCharLoc, 1, '')
        SET @IncorrectCharLoc = PATINDEX('%[^0-9A-Za-z]%', @string)
        END
    SET @string = @string
    RETURN @string
    END