Animating Texture

So I’m trying to make a bike like this one: http://www.youtube.com/watch?v=1AwvuirSEAA&hd=1#t=36s
and so far the modeling is going great but I need to animate it the same way as in the video. How can I animate a material so it blends into another one and also how do I start with it invisible?

Here’s what it looks like now:
http://a.imageshack.us/img69/8853/snapshot20100828205443.th.png
http://a.imageshack.us/img826/4426/snapshot20100828210626.th.png

you can set keys in the materials window, same as in the 3D window, just by putting your mouse cursor in the materials window and pressing I. You’ll get a slightly different set of keyframe options, such as for alpha, and RGB. If you want to edit the animation curves, you can get to them by opening an ipo window, and selecting ‘materials’ from the pull-up menu on the ipo window header.