creating hyperlink from cell data

Hi everyone, if I had a URL e.g.

http://www.google

in column A and the text Google in column B is there anyway of automatically making the text in column B a hyperlink based on the URL in column A? (Or even creating a new entry in Column C based on the text and URL from B and A respectively)

I'll be trying to do this with data from lots of rows and I'd be grateful if you can show me where to start please.