for two minutes... you'll probably need a Flash Card instead or use few 24LC512 on the same I2C bus. For 2 minutes i would suggest to use any ISD chip as i previously suggest.

Basically you may record the Wav file in your computer with a decent Sampling rate, rename it as .BIN then dump it to your EEPROM. Knowing the file size, you'll know the EEPROM size...

The wav output is pretty simple, you will read your EEPROM, send it to DAC. It could be as simple as a resistor network and a OP-amp

Now, you can also use the same method but use MP3 format instead and use a MP3 decoder IC like VS1001K

Or if you have some guts, you may try the following
http://www.romanblack.com/picsound.htm

good luck!