How to generate an iPhone .app ?

Dear Expert:

I have an iPhone project which I run from Xcode on simulater as well as on a connected iPhone. I would like to know where can I found the .app file (the compiled build file) so I can send by email to a friend which its iPhone is included on the testing list.

I'm using last version of Xcode (4.1).

Thank you.
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You wont find it, as XCode sends it directly to the simulator.
To compile an iphone app, (.ipa extension) you need to be a registered Apple developer, which costs 99 US dollars yearly.

gplanaAuthor Commented:
I am already registered as an Apple developer (I have payied the 99 USD yearly quota.
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gplanaAuthor Commented:
Spartan, I have read the link you have sent, which is very useful. I have generated a .ipa file, but I would like to generate a .app folder as a developer I had give me the applications. How can I achieve this ?

Thank you.
The library folder is hidden in lion, but you can fina the app folder in:

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gplanaAuthor Commented:
Thank you both.
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