How to link up “read more” on excerpts hack from WP Recipies

I found the code on the WP Recipies page to force excerpts on the home page:

function my_excerpts($content = false) {
    // If is the home page, an archive, or search results
if(is_front_page() || is_archive() || is_search()) :
    global $post;
    $content = $post->post_excerpt;

// If an excerpt is set in the Optional Excerpt box
    if($content) :
        $content = apply_filters('the_excerpt', $content);

// If no excerpt is set
    else :
        $content = $post->post_content;
        $excerpt_length = 55;
        $words = explode(' ', $content, $excerpt_length + 1);
        if(count($words) > $excerpt_length) :
            array_pop($words);
            array_push($words, '...');
            $content = implode(' ', $words);
        endif;
        $content = '<p>' . $content . '</p>';

    endif;
endif;

// Make sure to return the content
return $content;

}

add_filter('the_content', 'my_excerpts');

But how do I modify that snippet to add a hyperlink to the full post for the “…” part?