Turn my image into vector?

So I have about 20 images, very simple, probably 16 of them are just text on a transparent background. How do I convert these to vector images in Illustrator? Quickly and easily? Like trace them, fill the inside in with the same color, and save it as .EPS?

Thanks all!

 

What I do, is I trace images to make them vectors. I can even save it as a jpg file.

 

if you have above CS2 you can just do live trace
an extremely useful tool, made for pretty much that