Check out the Podcast: Making your first PhoneGap Application with Peter Mourfield http://hanselminutes.com/304 for some insights into how this process works.
With build.phonegap.com, you can upload your HTML app and it will spit out Android, iOS… app binaries. Yes! You don’t need a Mac to build an iOS app anymore. For enterprise level apps, there is a pricing plan (it’s not free).