Hi Jhench,
I think 64MB ram is not enough to run gcc
What you CAN do is run arm-gcc on an emulated computer.
I've experimented with Qemu: you can set- up a virtual ARM computer runing Linux (I used Debian etch). I was able to install and run arm-gcc-3.4. What stopped me was the fact that the stuff on the Iliad uses software floating point and the Debian gcc uses hardware floating point (binary incompatible object files). Didn't have time to investigate further...
Here are some QEMU links; hope it helps...
http://www.aurel32.net/info/debian_arm_qemu.php
http://technowizah.com/2007/02/debia...l-machine.html
Hansel.