How do I encode .wmv on Mac OSX?

How do I create Windows Media Video files (.wmv) on
Mac OSX? I want to put movie clips on my site in both
QuickTime and Windows Media, but the only applicatioin
I've found that can do it is Discreet cleaner 6, which is a
$500 program. Doesanyone know of a simple, even
free, or at least cheap downloadable application I can
use to encode video to Windows Media format on Mac
OSX? Microsoft doesn't seem to provide a Mac version
of Windows Media Encoder. Any help would be greatly
appreciated, I've been looking all over for a solution to
this. Thanks in advance,

Jay