How to share my laptop's dail up connection?

Hi, i have an Aspire one D270 and i am 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 wifi of my laptop. Can it be done? If yes then please help me how? With a step to step procedure.

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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 wifi hotspot in your laptop and then you can connect your android device through wifi.

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 wifi-
stop host

Now you can connect your android device through it.

Yes it can be done, There is application called connectify

www.connectify.me