My iPod battery is dying Can I replace it myself?

I have the third generation Ipod, and I've started noticing that it holds less and less of charge after each use. Since I no longer have Apple care as this was purchased from a friend who was upgrading to the touch, I'd like to try replacing the battery myself.
Do you guys feel like this is something that I could handle on my own, as I have some crafting tools and am familiar with soldering or should I take it in to see what the repair costs are vs just getting a new one?
Thank you for this site. First poster but long time lurker and always such great advice.
Abigail
Low Battery
No battery power remains.
Please connect iPod to power.

