With such a topic so broad we truly try to cover the basics from all angles in this group. Nothing too big or too small. Nutrition is as significant if not more as exercise is to reaching your goals so learn all you can.
The exercise bike will only give you cardiovascular fitness. If you can get some dumbells, and do wieghts that will help. Also clean up your diet. Good Luck and welcome to FT.
-------------- The trouble with jogging is that, by the time you realize you are not in shape for it, it is too far to walk back! Franklin P. Jones
Everyone can't have access to a gym but you can still take advantage of the newbie gains you can get, at least in the short term, with just your body weight and things laying around the house. The site link below has some pretty fair exercise programs and doesn't require membership (at least the last time I looked). Browse around some of the ft posts and hopefully you'll be convinced that cardio alone won't necessarily get you to your goals.