1. Install GCC, CMake, and development libraries for zlib and sdl.
2. cd SDL
3. ./buildassets.sh
4. ./b.sh

That should do it.

Special instructions for MacOSX:

Install XCode
Install CMake
Open XCode, Preferences, Downloads, Components. Install the command line toools.

Install MacPorts
Using MacPorts, install libpng
Do the above.