Adding product variation for extra feature with additional cost

Hello,

I would like to add a product variation to some of my products that adds an additional cost to the overall product price. Specifically:

We have a product that works with LED Lights.
As standard the product is sold without lights.
I want to add a variation (or option) for that product to include the LED lights on the product details page.
Adding the lights will increase the overall product price, which should be done before pressing ‘Add to basket’.

Is this possible?
& if so, how can I do it?

Many Thanks,
Mark