Does evolution stop once a species has become a "species?"

Does evolution stop once a species has become a species?
             Well my question was, does evolution stop once a species has become a “species?” And from what I have researched, evolution does not stop once a species becomes a species. Every population of living organisms is enduring some sort of evolution. Even though they’re undergoing a some sort of change, though the extent speed of the process varies significantly from one group to another. Populations that experience a great change in environmental conditions, whether that change comes in the form of a new predator or a new island to disperse to, evolve much more quickly than do populations in a more stable set of conditions. This is because evolution is driven by natural selection, and because when the environment changes, selective pressures change, favoring one portion of the population more heavily than it was favored before the change.

"Evolution: Frequently Asked Questions." PBS: Public Broadcasting Service. Web. 12 Nov. 2010. <http://www.pbs.org/wgbh/evolution/library/faq/cat05.html#Q03>