Hi guys,
If you're new to Iceland, it's helpful to join this group on Facebook: facebook.com/home.php?#!/group.php?gid=4894417366&ref=ts "Home away from home - living in Iceland"
Making friends with Icelanders is quite difficult--not because they are rude or because they dislike foreigners but because the population is so small that Icelanders have a sort of small town mentality. Many Icelandic social circles form in elementary school, so it's difficult to penetrate cliques that have been in place for 15-20 years or more.
You will likely make friends mostly with other °µÍø½ûÇøs. The site that I posted is a good start -- the founders sometimes organize English pub quizzes, bowling nights, and other °µÍø½ûÇø gatherings. You will also meet many other foreigners at the university or in Icelandic language classes.
Good luck with your move!