Connect one device to another via Ethernet, and have the other device transmit wifi?

So I was wondering if I could plug my desktop (which does not have wifi capabilities) into my laptop using ethernet (because my laptop does have wifi capabilities) and have the laptop send out the signal from the desktop to my router? If so, how? Do I need any special programs?
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    The feature is called ICS and microsoft has very good stuff on their site about setting it up. The question is do you really want to convert you laptop into a stupid nic card. You can get a USB based nic card for under $10 and you could get a wireless bridge that would convert ethernet to wifi for maybe $50 from companies like ubiquiti
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