Exchange 2003 - Configure Active Sync

I have a client who needs to setup Active Sync in their institution.
They currently have one SBS 2003 Server running exchange and AD on the same box. SP2, virtualized, ESX5.0.
OWA is setup and works over http.
They do not have a SSL certificate.
If it is however a LOT easier to get activesync running by simply purchasing an SSL certificate, I am open to suggestions. The client is small and prefers to have something very inexpensive.

At this time, when I try to sync with an iphone, the iphone says Unable to Verify account information.
When I use the Microsoft test connectivity tool online, I receive DNS and port 443 successful tests.
However, the SSL test fails:

The Microsoft Connectivity Analyzer wasn't able to obtain the remote SSL certificate.
       Additional Details
 The certificate couldn't be validated because SSL negotiation wasn't successful. This could have occurred as a result of a network error or because of a problem with the certificate installation.

Is it possible to configure this service without the SSL certificate? Further, I may need some assistance in setting the right authentication in IIS.

In Default Web Site I have the following:
CertControl, CertEnroll, CertSrv, Exadmin, Exchange, ExchWeb, Microsoft-Server-ActiveSync, OMA, Public,
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prsbyrdAuthor Commented:
Thank you. I followed this process but encountered the following issues:

1. No Exchange-oma Virtual Directory
2. No Start> Server Management console to create the web server certificate

I also tried to browse to http://(servername)/certsrv to create a certificate and the page does not come up. I do see a certsrv in IIS, but am unsure how to get this to open the page.
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Windows Server 2003

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