How do you create project for both iPhone and Android?

Ok, I newbie to cocos2d-x so have a basic question ….

I am following Tutorial and in Chapter 1 it talks about setting up and starting a project … do I need to setup the project both for iPhone AND Android before I start?

Or can I just setup the iPhone project first and get it working, and then do Android one later?

Also, once I have working project for iPhone, can I create Andriod version from Xcode as well? Is it easy to create this other version?

I did look at wiki but don’t see answers to my questions in there.

Thanks

ok, so right after I posted my question I noticed the FAQ post at the top of the forum:
http://www.cocos2d-x.org/boards/6/topics/567

I have not read that information yet, but it seems like it might answer my questions.

SUGGESTION:
On the Wiki page, there should be links to the FAQ and the Tutorials for making it easier for newbies like me to find it.

Added suggestion here: http://www.cocos2d-x.org/boards/6/topics/11950

Thanks