Masonry as Shower Wall?

I have a small basement bathroom with a shower in the corner. The room is mostly unfinished -- painted masonry walls, square tiles over a cement floor, and an old drop ceiling. There is also a window.
The shower has no stall. It's just exposed water lines. There is a floor drain and naturally the floor slopes into it. I think this is all original (late 1950's).
What can I apply to the walls to make them "showerproof"? I'd like to use the shower for occasional guests, dirty kids and the like. Right now when we use it, the hot water loosens the latex paint on the water lines and walls. Eventually, I'd like to completely renovate it, but for now is there something that will make the walls heatproof and waterproof? Should I remove the old paint first? I originally thought any exterior paint would work, but the steam element makes me think something else is needed -- a sealant or something.
Thanks.
-jk
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respond !!! , everyone,!!! waiste an hour , your time is infinite and free..!! haa ha .....Get a few contractors out , then come back ;',';l;'';/.,;l;;
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