Droid Life doesn't believe there will be an sd slot on this thing, based on the Nexus S and Galaxy Nexus devices, and previous statements from Google.
Those were both Samsung devices, and Samsung had been omitting card slots in the same way as Apple. But this has been changing recently. Maybe Google did drop the slot to reduce the price, but if Google can "produce" such a device, then someone else can make a similar one with a card slot.