Well the material may be hard, it is not a difficult task.
A drill bit from Home Depot is not going to get it done though.
Find your local machine shop supply and buy an 1/8" M42 (cobalt) split point drill bit. Turn the bit slowly while keeping some form of lubricant/coolant on the bit. The easies way to do this is to first use the bit to drill an 1/8" hole in a plastic soda bottle cap, filling the bottle with water, and using it as a squirt bottle. Water will work, but actual coolant is better. Ask at the supply house and they may have a sample bottle of some product they are pushing. If not put bar soap (Ivory) on the end of the bit and drill for a few seconds, then reapply. Bar soap is a great lubricant, but still use the water to remove the heat from the friction.
The key is to not let the drill bit get overheated as it will lose it's point. Take your time and be patient. Once the pilot is through the rest is cake, purchase a decent grade (Nachi) 3/8" drill bit (at the same place) and it will follow through with little effort, again slow and be patient.
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