A:AnswerAccording to the Wave website, it has a 3.5mm aux jack. If your Ipod has a 3.5 mm output jack, you're in business.
It appears the big Wave CD uses RCA jacks.
A:AnswerIf the RCA jack is intended as a source input then you"ll be able to get a cable that has RCA red and white plugs on one end and the other end is a 3.5mm headphone jack that will plug into your phone or any other source with a headphone jack. Something similar to this suggested Insignia cable should do exactly what you're trying to accomplish