how to make Universal Binary static library for iPhoneSimulator and iPhoneOS

<span class="pun"></span><span class="pln">From man page of lipo:
       The  lipo command creates or operates on ``universal'' (multi-architecture) files.
       It only ever produces one output file, and never alters the input file.  The oper-
       ations that lipo performs are: listing the architecture types in a universal file;
       creating a single universal file from one or more input files; thinning out a sin-
       gle  universal file to one specified architecture type; and extracting, replacing,
       and/or removing architectures types from the input file to  create  a  single  new
       universal output file.

Example:
<font face="monospace">lipo -arch armv build/Release-iphoneos/libMylib.a -arch i386 build/Release-iphonesimulator/libMylib.a</font></span><font face="monospace"><span class="pln"> </span><span class="pun">-create -</span><span class="pln">output libMylib.a</span><span class="pln">
lipo -detailed_info libMylib.a
</span></font><span class="pln"></span>
Note:
-arch (armv|i386) can be omitted. lipo can figure out the architecture automatically.
-create and -output options have to be used to create a new Universal Binary static library.