There is some sound advice in the responses so far (e.g. don't reply to the text, don't waste your time/money calling the number). One aspect is missing so far.
The process below applies to commercial nuisance calls/texts in general, not just to this particular case.
Any licenced UK telco must have a published complaints procedure, and in order to retain their licence and continue operating, they must take complaints seriously (just ask the Rev Kennard, if you as an AAISP customer haven't already been following his Rants).
Don't expect any telco's (probably outsourced) customer service agents to suggest using this procedure (even if they are trained on the existence of the complaints procedure).
So look up the operator in question (which in this case you already know}, and use their published complaints procedure to complain about the activities of one of their customers. Bear in mind that the offender may be faking the originating number.
Be brief, factual and polite, as it often isn't the telco's fault, but it is almost certainly their responsibility under the rules which govern their business and the contract between them and their customers.
Same goes for nuisance calls from 0845 and other premium/non-geographical UK numbers. If no other options exist (eg PhonePayPlus), use the Ofcom non-geographic number list [1] to find out who issued the number, and complain to them, briefly, courteously and factually.
Complain informally at first, but make it clear that you know what the legal obligations on the telco are.
Eventually the message might get through.
The message will get more effective if the folks abusing any given telco's service start costing the telcos more than the telcos make from them.
I've tried this twice, and twice the calls from the number in question have stopped. May be coincidence, maybe not.
Best of luck.
Btw, give Android a try. PAYG Androids are under £100; last year's low-budget winner was the ZTE Blade/Orange San Francisco, now superceded by the San Francisco II but in the meantime others have allegedly pulled ahead (no recommendations from me).
[1]
http://www.ofcom.org.uk/static/numbering/index.htm#s...