I found the way to do it. This cannot be accomplished using the USB data cable which comes with the device. You need to have a serial cable which can be purchased at
http://www.pcables.com/cat1.html ($65+S&H )
or it can be home made by following these instructions at
http://www.shadowmite.com/650serial.html 
I don't have much knowledge about putting cables together (soldering and all that stuff) and don't want to brick my phone if I mess up something. So if someone ready to take chances and assemble this serial cable I would be willing to pay him/her
. Any takers?