Problem with setting up LiveCode with iOS SDK

[amg314]

I am trying to set up the latest version of Xcode with the latest version of LiveCode. I have been following the directions in the 'How do I Become an iOS Developer?' post. I'm not sure if I configured the iOS SDK properly under settings. The path for Xcode is already shown under 'iOS SDKs.' When I click add entry, I get the prompt asking for which version I installed. I then navigate to Applications and select Xcode and nothing happens. I then try to go on to the step for Standalone Application Settings, but the option is greyed out in the drop-down menu. Can anyone tell what it is that I've done wrong? Thanks!