It is really easy using the wizard.
From http://developer.android.com/guide/publishing/app-signing.html
Compile and sign with Eclipse ADT
If
you are using Eclipse with the ADT
plugin, you can use the Export Wizard
to export a signed .apk (and even
create a new keystore, if necessary).
The Export Wizard performs all the
interaction with the Keytool and
Jarsigner for you, which allows you to
sign the package using a GUI instead
of performing the manual procedures to
compile, sign, and align, as discussed
above. Once the wizard has compiled
and signed your package, it will also
perfom package alignment with
zipalign. Because the Export Wizard
uses both Keytool and Jarsigner, you
should ensure that they are accessible
on your computer, as described above
in the Basic Setup for Signing.
To create a signed and aligned .apk in
Eclipse:
Select the project in the Package
Explorer and select File > Export.
Open the Android folder, select Export
Android Application, and click Next.
The Export Android Application wizard
now starts, which will guide you
through the process of signing your
application, including steps for
selecting the private key with which
to sign the .apk (or creating a new
keystore and private key). Complete
the Export Wizard and your application
will be compiled, signed, aligned, and
ready for distribution.