I think this is what you are after, I wrote it myself so it might be able to be made smaller (using functions that I don't know about) but it will do. Just put it in wherever you are wanting the time to be displayed.
code:
<script language="javascript" type="text/javascript" >var d=new Date();var days=new Array("Sunday","Monday","Tuesday","Wednesday","Thursday","Friday","Saturday");var months=new Array("January","February","March","April","May","June","July","August","September","October","November","December");document.write(days[d.getDay()]+" "+months[d.getMonth()]+" "+d.getDate()+", "+(d.getYear()+1900)+", "+(d.getHours()%12==0?"12":d.getHours()%12)+":"+(d.getMinutes()>9?d.getMinutes():"0"+d.getMinutes())+(d.getHours()<12?"am":"pm"));</script>
EDIT: should have refreshed the page I guess... and mine is only static, not a dynamic one like that either (it will only show the one time and not continually update... I guess you wanted that though)
EDIT2: fixed my code to have a prefixing 0 on the minutes when they are less than 10
EDIT3: Had a problem with the year that is now fixed.... why do they start at 1900?