I have just installed steam but when I double click on the icon, it does nothing.

If i try to start steam from the terminal I get this:

This is what it says:

jonathon@BACAGE:~$ steam

Running Steam on ubuntu 12.04 32-bit

STEAM_RUNTIME is enabled automatically

/home/jonathon/.local/share/Steam/steam.sh: line 704:  5275 Illegal instruction

     $STEAM_DEBUGGER "$STEAMROOT/$PLATFORM/$STEAMEXE" "$@"

Installing bootstrap /home/jonathon/.local/share/Steam/bootstrap.tar.xz

Running Steam on ubuntu 12.04 32-bit

STEAM_RUNTIME has been set by the user to: /home/jonathon/.local/share/Steam/ubuntu12_32/steam-runtime

/home/jonathon/.local/share/Steam/steam.sh: line 704:  5361 Illegal instruction

     $STEAM_DEBUGGER "$STEAMROOT/$PLATFORM/$STEAMEXE" "$@"

Any ideas?