procrasturbation

(n) - a form of procrastination involving copious amounts or masturbation.

I know I had a week to finish my essay, but I was so busy procrasturbating that I had to bs the entire thing.

I heard that Jim had to check into rehab for his procrasturbation problem.

I also heard that Jim only agreed to go to rehab after his latest procrasturbation episode ended with him in the Emergency Room.