Rather than compiling directly on your handheld (cool to watch, but very impractical), it's best to set up a cross-compilation system, or a "toolchain". A few years back (where you might see posts of me compiling on my Jornada in this forum) crosscompilers were not nearly as easy to set up, but now it's not so bad.
"No chance in hell" only applies to closed-source projects that cannot be ported to another system. However, it might take a good bit of work before it works right. Or it might take very little at all. I don't have a 900 and my Jornada's been dead for a while now, but I could certainly play along inside an emulator if you'd like to go for it.