Thanks for all the replies.
So if i send you some bitcoin and i sign a message.... like..."hello from Irukandji". Only the receiver will be able to see it? And will it remain somewhere for ever or be deleted?
starmyc already answered the first part of your question: he's correct, signing is not equal to encrypting.
As for the second part of your question: a signed message is just a piece of ascii text, it isn't automatically stored on the blockchain. Usually, you send a signed message to somebody to proof you own the private key to a certain (staked) address. The message will exist as long as you and the receiver don't delete said message from your sent messages/inbox (or whatever other way you used to send the signed message).
You CAN include some text in a transaction using op_return, but this is rather technical, you'd have to craft a transaction in a "non-standard" way in order to do this. (with non-standard, i mean that if you use a standard wallet like core or electrum in a standard-gui way, there won't be an option available afaik)
here's a funny website to look at op_return's in some of the latest transactions:
http://coinsecrets.org/