Here goes....(hope this makes sense)....
1) Download Audacity for your machine. I just Googled "Audacity" and followed the links.
Do the install thing as per normal (hopefully you know how to do this)
2) Use "File/Import/Audio..." to open a file browser and use it to load the track you want...in this case HyperV.
Note: you might need to resolve some plug-in issues depending on the formats you are using.
Audacity cannot read CDs directly so you will need to have it in mp3 form or something else that the tool can read.
I happened to have it "ripped" to wma format which Audacity could read (after I had followed the simple instructions it gave me to download the "FFmpeg" library).
Audacity can Export in mp3 format but only if you download and install the "LAME" mp3 encoder. Again the tool makes this very easy - just go to "Edit/Preferences/Libraries" and you will see buttons to Download it and the on-screen messages tell you what you need to do. You should see a big blue wave of form....

....this is the whole track.
3) By default the "I-beam" Selection Tool is selected (next to the record button). This allows you to highlight a section of the waveform. When a section is highlighted, clicking play will only play the highlighted bit.
You can use the mouse to move the edges of the selection to where you want it.
You can zoom in further (using the magnifying glass buttons at the top right) so that you can get the selected portion to start exactly where you want, in this case, just before the piano bit starts at 1:04.
It's up to you where you want the selection to end. I've let it run until just after the end of the first loud bit (where the band pause and we all cheer)....

4) You can listen to the selection to make sure it starts and stops where you want. The ending is a little abrupt but we'll fix that in a minute. For now, I'll get this section into its own track.
Use "Edit/Copy" (or Ctrl-C) to copy the selection.
Use "Tracks/Add New/Stereo Track" to, erm, add a new stereo track.
Click the "Skip to start" transport button to move the insert-point to the start.
Use "Edit/Paste" (or Ctrl-V) to paste the selection into the new track....

5) I don't need the whole track any more so I close that using the "X" in the top left of the track.
6) Time to sort out the abrupt ending.
Here I have zoomed in on the very last bit of the clip.

I want this to fade out instead of just stopping mid-phrase.
Audacity is very useful tool for this kind of thing because it has a suite of effects like this built-in.
With the end section highlighted as shown, I just need to choose "Effect/Fade Out" and....

....we have a nice smooth fade.
7) Now we just need to use "File/Export..." to choose where and how to save the audio output.
Choose the appropriate file format (I used mp3) and note that the "Options..." button in the file dialog allows you to change the bit-rate etc.
Click "Save" and you just need to edit the metadata for the file (if mp3) and it will be exported.
Simples.

Here it is :-
http://http://soundcloud.com/user9295287/hyperingtoneNow you need to get the file onto your phone....hopefully you know how to do that.
I use a number of the Audacity effects quite a lot. Useful for quick edits, tempo changes, pitch changes, reversing things (this is how I fond the hidden message in Milliontown all those years ago).