Connecting WDTV live to laptop via ethernet

I just received a WDTV Live yesterday, I have WiFi at home but don’t have a USB WiFi adapter to use. The WiFi router is far away from the WDTV but I do have a WiFI (and internet) enabled laptop just 2 feet from where the WDTV live stands so, my question is:

¿Can I hook up the WDTV live directly to the laptop via ethernet cable so the WDTV can connect to the internet THROUGH the laptop?

I heard somewhere that you can do this by bridging both connections but… how can I I bridge the WiFi and the LAN connections in Windows 7 (ultimate)? The WiFi is shown as a private/home network in the laptop but the (ehternet) LAN is shown as PUBLIC (and I just cannot find where I can make it “private”) not where I can BRIDGE them both. The WDTV live is detected and shown by the laptop, but when you try to SETUP the network within the WDTV it tells you it cannot get an IP address.

Any help would be greatly appreciated.

Thanks,

you would need more than 1 ethernet port on your laptop, to have the modem and WD both going thru the Laptop, or just get a router.