Project Euler 14: (Iron)Python

In my attempt to learn (Iron)Python out in the open, here’s my solution for Project Euler Problem 14

As always, any feedback is welcome.

# Euler 14
# http://projecteuler.net/index.php?section=problems&id=14
# The following iterative sequence is defined for the set
# of positive integers:
# n ->  n/2 (n is even)
# n ->  3n + 1 (n is odd)
# Using the rule above and starting with 13, we generate
# the following sequence:
# 13  40  20  10  5  16  8  4  2  1
# It can be seen that this sequence (starting at 13 and
# finishing at 1) contains 10 terms. Although it has not
# been proved yet (Collatz Problem), it is thought that all
# starting numbers finish at 1. Which starting number,
# under one million, produces the longest chain?
# NOTE: Once the chain starts the terms are allowed to go
# above one million.
import time
start = time.time()

def collatz_length(n):
    # 0 and 1 return self as length
    if n <= 1: return n

    length = 1
    while (n != 1):
      if (n % 2 == 0):
        n /= 2
      else:
        n = 3*n + 1
      
      length += 1
    
    return length
    
starting_number, longest_chain = 1, 0

for x in xrange(1, 1000001):
    l = collatz_length(x)
    if l > longest_chain: starting_number, longest_chain = x, l 
        
print starting_number
print longest_chain

# Slow 31 seconds
print "Elapsed Time:", (time.time() - start) * 1000, "millisecs"
a=raw_input('Press return to continue')