One easy way is to import the data from within SQL server itself...right-click on the database or the table that you want to import to, select All Tasks, Import Data. Then select the spreadsheet. It's very easy.
Well, there are several ways to do it. I think you may want to look into using the BULK INSERT sql. But I don't want to lead you in the wrong direction though since I am not 100% sure. There is an "Import/Export" forum at http://sqlteam.com/Forums/forum.asp?FORUM_ID=13. They might have some ideas as well. I hope that helps.