In a small saucepan, mix the water and the sugar. Cook over low heat for approximately 8 minutes, until you get a soft syrup. There are 2 things you can do in order to know whether the syrup is perfectly cooked: take its temperature with a thermometer, which should reach 240 degrees, or grab a small portion, and let cold water run over it. It should form a small, soft ball.
About 3 minutes before the syrup is ready, beat the egg whites on high speed until it forms soft peaks.
On medium speed, mix the syrup in through the sides of the bowl.
When you are done adding the syrup, beat the meringue on high speed, until it reaches room temperature and forms stable peaks.