Welcome Spilky.
A bike would be a good place to start. There are many threads in the "Cycling Equipment" forum regarding bike choice for the beginner, so go through them for some ideas. If you see something you fancy, ask away. The guys and gals here will help.
Basic equipment would be:
A bike (duh!):
Low end bikes are usually: heavy, made from steel or aluminium, have cheap groupsets (gear and brake system), have cheap and heavy wheelsets, have toeclips (instead of clipless pedals), are not upgradeable (sp?)
Medium end bikes are usually: lighter, made from aluminium and/or carbon fibre mix, have good groupsets, have good wheelsets, have clipless pedals, are upgradeable
Top end bikes are usually: very light, made from aluminium and/or carbon fibre and/or titanium, have excellent groupsets, have excellent wheelsets, have clipless pedals and are upgradeable.
Most beginners I know buy low-end bikes, for fear of spending too much money on something they might not enjoy in the long run. 95% of them sell for a better bike after 6 months. Moral of the story: think carefully before buying - get a second opinion - visit this forum and ask! The worst thing you can do is buy a cheap bike that doesn't fit!
A helmet:
The most important purchase you will make at your local bike shop! NEVER, EVER buy a cheap helmet! Get the best your budget can allow, then through in an extra 100 bucks and get the model up on that. You can replace your bike, but you can't replace your nut.
Don't listen to salesman talk or buy just because the paint job looks cool. Look for something in the Giro, Trek, Met, Rudi Project or Limar range (just to name a few). You can't go wrong with any of them.
Shorts:
Get yourself a proper pair of cycling shorts. Gym pants or aerobic lycra shorts are not cycling shorts. The worst start you can make to your cycling career is with chaffing. Saddlesores are not fun!
Get a pair of shorts that fit properly. The more fancy shorts come with inserts that "breathe" and absorb sweat.
Shoes:
Most beginners start off riding with sneakers. If you do, thats fine, but as every other cyclist will tell you, cycling is 30% "easier" with proper cycling shoes. Rule of thumb: if your cycling shoes fit like your sneakers do, then they are too big.