Quality voice over Bluetooth

Hey everyone, I'm new to this board and to Arduino in general.

I have an arduino lilypad connected to a bluetooth module and I'm working on a project where I'd like to transmit mp3 audio from a Java application on a laptop to the arduino and have it play the audio on a mono speaker.

I would like the speaker configuration to be optimized to sound as close to a natural person speaking in a room (volume-wise) with decent quality.

I really just need some help getting pointed in the right direction. What hardware would work with this application?

What is the high-level process for sending audio to the arduino and then having the arduino itself send the data to whatever is decoding the mp3 and driving the speakers?