Is it possible, from inside a function, to access a variable that is inside another function?

Specifically, what I'm doing here is that when a user enters a value in the text field "one", the doubled value is inserted into text field "two". I would like to take the value that was entered in the first text field and use it to calculate something in another text field. Here's the code:

$(function() {
	$('input[name="one"]').keyup(function() {
	$('input[name="three"]').keyup(function() {
I would like to use $val1 final value in the second function. Is this possible?