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If you have Cubase SX2/SX3 (dunno about previous versions) you can do this with a logical editor preset. Select the midi notes you'd like to timestretch, goto: Midi(top of screen)->Logical Presets->Standard set 1, here you can find "double tempo" and "half tempo" functions
Reason can also do this (select notes, right click and there you can set the tempo in percentages, if I remember correctly.. haven't used Reason for ages )
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