It's been discussed many times, and is (apparently) becoming more common. I seem to recall a FED interp that this becomes a "delay of game" T on the defense ("failing to let the ball become live" or whatever the specific wording is). That said, I haven't looked for the interp.
My guess is that there will be an interp, at least at the NCAA level, next year. Until there is one, I'd warn the defense and then penalize with a T.
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