Need for help for audio compression in embedded system (iMote2)

Hi All,
   I am a new member to the speex-dev mailing list. i hope that u receive the help that i've been searching for.
I need to compress audio samples captured by wireless sensor node (16-bit PCM at 8Khz). can i use speex for such an embedded system environment that has the following HW/SW specifications:

-416 MHz Microprocessor(ARM architecture, Intel Xscale family)

-32 MB RAM
Beside that,i can use C language for developmnet.

Do these specifications work for 
compressing the captured audio samples so that i get them in smaller 
size for wireless transmission?

  Any Help or Advice Is Very Appreciated

Regards.
Mash'al
Jordan Univeristy Of science and Technology(JUST)

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