QThread won't stop / does not process a signal

Question

I am trying to perform some work in a separate thread and stop that thread when the work is done.

I have set up a connection like this

thread.connect( workerClass, SIGNAL( finished() ), SLOT( quit() ) );

but the quit() slot is never called when I emit the finished() signal. The command line does not show any warnings related to failed connections.

I created a simple test project to narrow down the problem and I get the same behavior:

TestClass.h:

#ifndef TESTCLASS_H
#define TESTCLASS_H
class TestClass : public QObject
{
    Q_OBJECT
public:
    TestClass() { }
signals:
    void finished();
public slots:
    void doWork();
}
#endif // TESTCLASS_H

TestClass.cpp:

#include "TestClass.h"
#include <QtCore/QDebug>
void TestClass::doWork()
{
    qDebug() << "Starting";
    for( long i = 0; i < 1000000000; i++ );
    qDebug() << "Done";
    emit finished();
};

and the main.cpp:

#include <QtCore/QCoreApplication>
#include <QtCore/QThread>
#include "TestClass.h"

int main( int argc, char* argv[] )
{
    QCoreApplication a( argc, argv );

    TestClass testClass;
    QThread testThread;

    testClass.moveToThread( &testThread );

    testThread.connect( &testClass, SIGNAL( finished() ), SLOT( quit() ) );
    testClass.connect( &testThread, SIGNAL( started() ), SLOT( doWork() ) );

    testThread.start();
    testThread.wait();

    return 0;
}

So here is what I expected to happen:

1. Once testThread.start() gets processed, the thread's run() function gets called, which internally calls exec() and starts an event loop. Additionally it throws a started() signal.
2. testClasshas its doWork() slot called.
3. When TestClass::doWork() is done, it throws a finished() signal.
4. The event loop of testThread receives the signal and forwards it to its quit() slot
5. testThread.wait() returns from waiting as the thread has ended.

Steps 1-3 work and I get the qDebug() output. The problem is at step 4: The signal is fired and forwarded to some event loop (I debugged it a bit, but couldn't figure out to which event loop it was fired) but the quit() slot is never called.

What am I doing wrong?

P.S.: Please don't suggest subclassing QThread instead, the whole point of me trying this way out is because I want to avoid subclassing QThread.