how can i get an mp3 from imovie footage?

[crp2000]

I have footage of my band playing live which is now in imovie, how can i convert this to an mp3 to send friends and have on my ipod etc? i tried ffmpegx but it keeps failing. I have toast, ffmpegx, quicktime pro and most other apps.

[Frobozz]

Here is a QuickTime Pro method:
Open movie in QuickTime Pro. Choose Export from the File menu and choose Sound to AIFF as the format. You now have a AIFF file that can be converted to MP3 in iTunes.

[terryj]

Use Wiretap, Audio Hijack, or AHP.
Hijack iMovie, and re-record to MP3
at 160kbps, 48khz, 16bit.

[WiseWeasel]

Don't use wiretap or audio hijack, as they will resample the audio before encoding it to MP3, causing quality to be reduced. From iMovie, with the clip whose audio you want in the timeline, choose Export from the File menu. For the format, select QuickTime, Expert settings... In the next window that pops up, choose Sound to AIFF, which will take the PCM audio from the DV stream and put it in in an AIFF container unmodified. Then, if you want to convert that to MP3, you can use iTunes. In the iTunes preferences, Import tab, set the encoder to MP3, and the bitrate to what you want. I always use VBR at maximum quality with a 160 kbit baseline and regular stereo (not joint stereo). Then, put the AIFF file you saved from the iMovie clip in an iTunes playlist, and choose "Convert to MP3" from the Advanced menu.