We report on the observation of bottom-charm mesons via the decay mode B^+/-_c -> J/psi l^+/- nu in 1.8 TeV ppbar collisions using the CDF detector at the Fermilab Tevatron. A fit of background and signal contributions to the J/psi l mass distribution yielded 20.4^+6.2_ -5.5 events from B_c mesons. We measured the B^+_c mass to be 6.40 +/- 0.39(stat.) +/- 0.13(syst.) GeV/c^2 and the B^+_c lifetime to be 0.46^+0.18_-0.16(stat.) +/- 0.03(syst.) ps. The measured production cross section times branching ratio for B^+_c -> J/psi l^+ nu relative to that for B^+ -> J/psi K^+ is 0.132^+0.041_ -0.037(stat.) +/- 0.031(syst.)^+0.032_-0.020(lifetime).