  The first direct measurement of photon bunching (g2 correlation function) in
one output arm of a spontaneous-parametric-down-conversion source operated with
a continuous pump laser in the single-photon regime is demonstrated. The result
is in agreement with the statistics of a thermal field of the same coherence
length, and shows the feasibility of investigating photon statistics with
compact cw-pumped sources. Implications for entanglement-based quantum
cryptography are discussed.
