Extracting XML data to php

I'm trying to extract data from XML file (http://freegeoip.net/xml/google.com). You can see the content of the file looks something like:

74.125.235.3
US
United States
CA
California
Mountain View
94043
37.4192
-122.0574
807
650

I want to take the information stored in the and tags, and store them in separate variables. The problem is, I've little idea how to do this, and was wondering if anyone could show me how to parse XML files with php?