Java; String replace (using regular expressions)?

As part of a project for school, I need to replace a string from the form:

5 * x^3 - 6 * x^1 + 1

to something like:

5x<sup>3</sup> - 6x<sup>1</sup> + 1

I believe this can be done with regular expressions, but I don't know how to do it yet.

Can you lend me a hand?

P.S. The actual assignment is to implement a Polynomial Processing Java application, and I'm using this to pass polynomial.toString() from the model to the view, and I want do display it using html tags in a pretty way.

str.replaceAll("\\^([0-9]+)", "<sup>$1</sup>");

private String removeScript(String content) {
    Pattern p = Pattern.compile("<script[^>]*>(.*?)</script>",
            Pattern.DOTALL | Pattern.CASE_INSENSITIVE);
    return p.matcher(content).replaceAll("");
}

String input = "hello I'm a java dev" +
"no job experience needed" +
"senior software engineer" +
"java job available for senior software engineer";

String fixedInput = input.replaceAll("(java|job|senior)", "<b>$1</b>");