database date output

I am running a query that is pulling from the database the post_title, the post_name, and the post_date. I am then outputting rows with this information. However the date is coming out like this: 2012-11-05 22:09:13 and I need it to come out like this: November 5, 2012 . Here is the code:

$query_y = "SELECT post_title, post_name, post_date FROM $table_name WHERE post_type='post' AND year(post_date) = '$i' AND post_status = 'publish' ORDER BY post_date DESC";
         $myrows = $wpdb->get_results($query_y);

         echo "<ul class='custom'>";

         foreach($myrows as $myrow) {
	         $title = $myrow->post_title;
	         $permalink = $myrow->post_name;
	         $date = $myrow->post_date;

	         echo "<li>".$date."<br /><a href='".$permalink."' title='".$title."'>".$title."</a></li>";