Which version of ENVI are you using? What type of data do you have?
For instance, in ENVI Classic, you could use the Transform -> NDVI tool to calculate an NDVI band. Next, you could use the Basic Tools -> Band Math to enter the formula. If you are NOT familiar with band math, then you need to enter the expression
0.57*exp(2.33*b1) in the "enter an expression" window, then you need to select the newly created NDVI band as b1.