A new version of the IBM Cell Broadband Engine Software Development Kit has just been released. The SDK is the primary "product" of our team, and is a collection of tools for the Cell/B.E. - kernel, compilers, libraries, documentation and sample code. The SDK is shipped in RPM format, and is based on the Fedora 7 and RHEL 5.1 distributions.
However, if you're running another distribution of Linux (particularly one that isn't based on RPMs), then I have put up some instructions on building a toolchain for the Cell SPU architecture.
These provide a step-by-step guide to building a complete toolchain (binutils, gcc and newlib) from source. You'll then be able to compile applications optimised for the Cell Broadband Engine.