It already has 2GB which is over-the-top for a current Android device. It's not expandable, but that should be enough for years to come.
If you're talking about storage space, not memory, there's no SD slot but it supports USB OTG so you can use a USB thumb drive or card reader with a cable.
Pay the $5 or less for an OTG cable and another few bucks for the Nexus Media Importer App. My Nexus 7 16GB is always full but with the above it doesn't matter as I just connect a 32GB Thumb drive and I can watch stuff or listen to music directly from the stick.
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