The selfloop is clunky. I doubt it will succeed (the relay approach is cleaner).

There are two alternatives if your phone supports BT4.

Go read my 8/23/2013 4:59 post.

It's not clear why you want ANT anyway. You can get BT transmitters for speed/cadence and HR.

You might need to wait until BT (Bluetooth) is sorted out on android or get a iPhone.