there has been a speech reading feature in the mac OS for years. go into system preferences and go to speech, then into text to speech. you can set a keycombo that will speak anything you have selected in pretty much any application.
but to my knowledge, you cant record it while its speaking. if you want to do that, you'll need an external recording device (camera, deck, tape recorder, mini disc, another mac...) hooked to your sound out, then come back and capture that.