Toshio Mori published a presentation on SlideShare on installing Node.js on a rooted Android phone. Although the slides are in Japanese, enough of the commands are in English that you can make out the steps.
The presentation walks you through rooting your phone, installing QEMU (a virtualizer), running Debian Linux on QEMU and, finally, running Node.js. The actual steps are as follows:
- Root the IS01
- Use qemu to build a Linux on an ARM environment
- Use the ARM Linux environment to build Node.js
- Copy the Node.js binary to the IS01
Considering that it has to be run through a Debian virtual machine, I'm not sure exactly what use this is other than maybe having a mobile Node.js environment to test code against.