Transforming Hybrid to Tri-bike

[McLovin]

I have the following hybrid bike, which I absolutely love.
http://www.specializedriders.com ...

I want to start training for triathlons and have everything ready to go except a bike. I am short on cash these days and want to see about the feasibility of changing this bike over to a bike that's a better fit for a triathlon.

First off, is it feasible?

Second, if so, what new components do I need? I would obviously need to change the handlebars and get smaller tires (and rims). What else?

Thanks.
McLovin

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