Android doesn't know how to handle M3U Broadwave playlists, instead of it you can create a HTML page and add a link to the stream. Android will open the link in the default player and you will be able to listen the stream only. There is no possibility to broadcast or to install Broadwave application in your phone.
Save the file in HTML format and then transfer it to your phone. Open it and click on the Stream button and then Android will open the link.