I am assuming you already have a mac with OSX Lion and App Store installed.Open the app store, search for xcode, click on it, it is a free app , download it.
This is a huge file about 1.5GB, so you need to a good connection and have enough time to download in asingle stretch. Make sure you have couple of GB's of free space.Xcode gets installed in /Developer in your hard disk/SSD.For running the app built by you on device you would need a Apple developer account, I would add theinstructions at a later time.
Ruby comes preinstalled in OSX Lion, open terminal and check the version.
If you are a advanced user you can getRVMand install a custom ruby version.GotoRubyMotion siteand click on thebuy link and buy your RubyMotion License.
Rates as on 9th May is 149$ it is a early bird rate so hurry.Download the installerhttp://www.rubymotion.com/files/RubyMotion%20Installer.zip.Please have your license code ready as it asks at this stage.Open the zip file and run the installer.Accept the terms and conditions, enter the license key and begin install, you would be prompted for yoursystem password, once that is done in couple of seconds the install would complete and you are ready to work with RubyMotion.