multiple domain names pointing to single blog

We currently have a single blog on a single domain. The domain is long and cumbersome and includes hyphens in the name (not fun). We recently purchased a new domain that is less long and less cumbersome (and contains no hyphens… yeah!). We’d like to have the new domain (the one without the hyphens) be our primary domain but for all those who have not yet heard about the new domain, we’d like the old (with hyphens) to still point to the blog. Will this be an issue? Do I simply set the wordpress URL and site address URL to the new (hyphenless) url and then handle the redirect on the old (hyphened) url using DNS (cname or ptr) to point to the new URL? Thanks!