How to split a multivalued column, do a lookup and update another column?

This is a part of my previous question.

How can I achieve the following for all the records in my table using a single query?

SET @TeamMembers = TeamMembers from tblProjects where ID = '125'

DECLARE @MemberEmails TABLE(col VARCHAR(255))
DECLARE @MemberNames TABLE(col VARCHAR(255))
DECLARE @Names VARCHAR(255)

INSERT INTO @MemberEmails
SELECT * FROM [dbo].[fnSplitString] (@TeamMembers, ',')

INSERT INTO @MemberNames
SELECT u.NAME FROM @MemberEmails e LEFT OUTER JOIN Users u ON e.col = u.EMAILID

SELECT @Names =
   STUFF((SELECT '; ' + RTRIM(CONVERT(CHAR(50),col))
   FROM   @MemberNames b        
   FOR XML PATH('')),1,1,'') 

UPDATE tblProjects SET Team = @Names  WHERE ID = '125'