How to accept space in command line args

I have a simple script like this
#!/bin/bash
for i in $*;do
    echo "ARG = $i"
done
exit 0

So  if i run
export IFS=`echo -e "\n"`
./myscript.sh "hello ram"

I would expect
ARG = hello ram

BUT I get
ARG = hello
ARG = ram

BTW If I put export IFS line in the script it does work
I dont understand why

Thanks
Ram

for i in "$@"; do

--
Alexis
http://dione.no-ip.org/~alexis/