How to share my laptop's dail up connection?

Hi, i have an Aspire one D270 and i'm using internet on it with a reliance netconnect + broadband usb device as a dial up connection. I want to share it to my iphone and android device through Wi-Fi of my laptop. Can it be done? If yes then please help me how? With a step to step procedure.

Waiting

Added (1). Windows 7 ultimate

Which Windows are you using? Windows 7 or 8? This trick will not work on Windows xp.
It will create a virtual Wi-Fi hotspot in your laptop and then you can connect your android device through Wi-Fi.

Open start menu and search for "cmd". Right click and Run as administrator.
Type following-
netsh
wlan
set hostednetwork mode=allow ssid=MyPC key=123456789 keyusage=persistent
start host

to stop virtual Wi-Fi-
stop host

Now you can connect your android device through it.

Yes it can be done, There's application called connectify

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