There is a tutorial that will walk you through setting up an iTunes compatible podcast -

Goodluck!

Publishers create audio content, and post it to a web server, typically in MP3 format.
They publish an RSS file (newsfeed) that contains RSS news items that reference the audio content. Each RSS item provides meta information about an audio file, such as the file’s name and description, and contains an RSS enclosure with the URL of the audio file.
End-users regularly check for new versions of the newsfeed, using an application like iPodder. When a new version is found, iPodder reads through it, identifies the audio file URLs, downloads them and syncs them to a media player.
Users listen to the “podcasted” audio file when it is convenient.