In a way yes, as long as you have an Android phone, your Color Nook is ready to TeatherGPS….See Details.
@TatWza

TetherGPS links up your Android phone’s GPS to the Nook Color by means of WiFi, either on the same network or via a WiFi tether. After connecting the two devices, it makes a second link by running a TGPS server on the phone and a TGPS client on the Nook. The two devices are then both connected with routes and roads. The Nook’s location-aware Android applications, such as Google Maps, will draw from this connection for location data and use it as if there were a GPS receiver on board. TetherGPS is $2.99 on the Android Market