SQL error - no delimiter between...

[aronkallay]

I am trying to run the following SQL query in phpMyAdmin:

UPDATE wp_options SET option_value = replace(option_value, 'http://www.example.com', 'http://localhost/test-site') WHERE option_name = 'home' OR option_name = 'siteurl';

When I paste or type this in, I get the little red "X" with several errors when I hover over. They are:

a new statement was found, but no delimiter between it and the previous one (near replace)
unexpected token (near ()
several more unexpected tokens...

This is a database I've imported from an existing site. I've searched around for this error, but cannot find it anywhere.

Any help would be much appreciated.

Thanks.