Replace string with values from two arrays

I have a string for example:
var string = 'This is a text that needs to change';

And then I have two arrays.
var array1 = new Array('a', 'e', 'i', 'o', 'u');
var array2 = new Array('1', '2', '3', '4', '5');

Now, what I what to do is check string with array1 and replace the string with corresponding value from array 2. So with a function to do this I need to get something like:
string = 'Th3s 3s 1 t2xt th1t n22ds to ch1ng2';

Any ideas on how to approach this problem? And may be an efficient approach? Since I plan to use this on huge chunks of data.
EDIT:
Based on the answers here I have compiled a code to allow the above operations while also allowing few special characters. Check it out.
var string = 'This is a text that needs to change';

var array1 = new Array('ee', 'a', 'e', 'i', 'o', ']');
var array2 = new Array('!', '1', '2', '3', '4', '5');

function escapeString(str){
    return str.replace(/[\-\[\]\/\{\}\(\)\*\+\?\.\\\^\$\|]/g, "\\$&");
}

var re = new RegExp('(' + escapeString(array1.join('ૐ')) + ')', 'g');
var nx = new RegExp(re.source.replace(/ૐ/g, "|"), 'g');
alert(nx);
var lookup = {};
for (var i = 0; i < array1.length; i++) {
    lookup[array1[i]] = array2[i];
}

string = string.replace(nx, function(c){
  return lookup[c]
});

alert(string);

for(var x = 0 ; x < array1.length; x++)
    string = string.replace(new RegExp(array1[x], "g"), array2[x])

FIDDLE

If the characters to replace are just regular letters, and nothing that has a special meaning in a regular expression, then you can make a regular expression that matches only those characters. That allows you to use a single replace with a function that translates those characters:
var string = 'This is a text that needs to change';

var array1 = new Array('a', 'e', 'i', 'o', 'u');
var array2 = new Array('1', '2', '3', '4', '5');

var str1 = array1.join('');
var re = new RegExp('[' + str1 + ']', 'g');

string = string.replace(re, function(c){
  return array2[str1.indexOf(c)]
});

Demo: http://jsfiddle.net/Guffa/2Uc92/