ProGuard will do it for you on your release build and now the good news from android.com:
http://developer.android.com/tools/help/proguard.html
The ProGuard tool shrinks, optimizes, and obfuscates your code by removing unused code and renaming classes, fields, and methods with semantically obscure names. The result is a smaller sized .apk file that is more difficult to reverse engineer. Because ProGuard makes your application harder to reverse engineer, it is important that you use it when your application utilizes features that are sensitive to security like when you are Licensing Your Applications.
ProGuard is integrated into the Android build system, so you do not have to invoke it manually. ProGuard runs only when you build your application in release mode, so you do not have to deal with obfuscated code when you build your application in debug mode. Having ProGuard run is completely optional, but highly recommended.
This document describes how to enable and configure ProGuard as well as use the retrace tool to decode obfuscated stack traces
