I want to use the tar command so that to split a large size into parts each with CD size, i.e. 700MB..

I only can use it in the form: tar -czvf $1.tar.gz $1 but this only tar and compress the $1 file in single part.. Can i split it to something like tar -czvf $1.tar.gz.part$i -S 700M $1 where S option (i don't know if there's something like that or not) represent Size of part is 700MB..

Anyone help me please?
Thanks in advance,