I would like to be able to stream my radio or even some music from my computer over the internet, possibily through a myspace site.

I am able to plug the radio in to the compter so i wont need any help with that bit.
I also heard that you can use vlc media player for streaming audio on to a site, is this true, if so, is using vlc the way to go?

If anyone can give me some basic instructions i would be pleased, dont try to make it too detailed, im pretty good at working things out, just need some pointers!
Cheers