WordPress importer

I have recently installed WordPress for a company Website, and I am having a big issue with the importer. The old company website was a WP site, but they wanted me to make a new one, with the same posts and stuff. They gave me the exported xml file, and when I try to upload, I get an error that the file size is too large. Upon going into the php.ini file, the max post size and max upload size are both set at 2M, and my file I need to upload is 65.5M. I tried changing the values in the php.ini file, but that did not work. Does anyone have any suggestions on how to get the file to upload properly? Or to bypass the upload step and just read the file from a local server directory?