Looks like the decision to hold onto the original iPhone has finally paid off. OrangeGadgets has just announced that they will be releasing a GPS device, the iGPS360 iPhone/iPod Touch Module.

This device will give GPS functionality to those who have gone without for so long. The iGPS360 will plug into the bottom of your iPhone 2G/iPod Touch making it a bit longer than most would like. The drawback is that your iPhone or iPod Touch must first be jailbroken in order for this to work because Apple has not given the OK for any device to access the OS though the dock connecter.

The device has an on-board back-up battery that will store GPS information allowing for a quick GPS lock-on after the device itself has been switched off. You can also charge both your iPhone/iPod Touch and the GPS device at the same time through a micro USB cable that comes with the GPS device. You can pre-order the iGPS360 right now but act quick, by the looks of things they will only manufacture 1000 units.

[Via BuyMeAniPhone]