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Does your current ADSL modem use a USB or ethernet connection. You need the latter for a router. You can get ADSL modem based wireless routers that incorporate, and thus replace the existing modem. Cable broadband routers, must not include the ADSL modem.
I'd recommend that you purchase a "g" rather than "b" speed wireless router. Altough "b" speed is slower than your 2meg current broadband, over the next couple of years broadband speeds will increase as standard and thus the "g" is furture proofed.
Most wireless routers have wired LAN ports as well as the wireless. You'd simply connect the WAN (internet) port to the modem , and the LAN to the ethernet port of any desktop PC as an alternative to using a wireless card in the PC.
As for whether the service will be fast enough, probably, it's more the upload speed that is significant rather than the download. If one of you is gaming, while the other tries to download a few MP3s or something you might notice problems.