The research presented in this paper is aimed at developing a control algorithm for an autonomous surface system carrying a two-sensor array consisting of two acoustic receivers, capable of measuring the time-difference-of-arrival (TDOA) of a quasiperiodic underwater acoustic signal and utilizing this value to steer the system toward the acoustic source in the horizontal plane. Stability properties of the proposed algorithm are analyzed using the Lie bracket approximation technique. Furthermore, simulation results are presented, where particular attention is given to the relationship between the time difference of arrival measurement noise and the sensor baseline - the distance between the two acoustic receivers. Also, the influence of a constant disturbance caused by sea currents is considered. Finally, experimental results in which the algorithm was deployed on two autonomous surface vehicles, each equipped with a single acoustic receiver, are presented. The algorithm successfully steers the vehicle formation toward the acoustic source, despite the measurement noise and intermittent measurements, thus showing the feasibility of the proposed algorithm in real-life conditions.