[Opperioav]

There are already quite a few applications that do basically the same thing. They read the location from GPS and send it somewhere. The idea is simple. This is the one I used (it has a useful timer... you set the expiry time of the "glympse"):
http://www.glympse.com/

[statistica]

I'm worried about privacy and all you can think about is money

This shouldn't be expensive. It only uploads the location. Two numbers:
longitude and latitude. If it did it a hundred times per second it would
still amount to kilobytes, not megabytes.

[rionetrozasa]

I'm worried about privacy and all you can think about is money

If you read my profile, I'm an accountant, and the 'o' is silent.