The Playstation Vita is going to launch at a decent price point with the 249.99 for WiFi model and 299.99 for the 3G model. But Gamestop has released some price points for the four model of memory card they will be selling and well ouch is one way to describe it.
They are selling a 4GB memory card for 29.99$, an 8GB for 44.99$, 16GB for 69.99$ and finally 32GB for a whopping 119.99. Those are expensive proprietary memory cards. Though there will probably be non-proprietary for much cheaper then that. At least I would hope so.
For comparison, 3DS memory cards which takes regular SD cards for memory. Costs for those range from 4 dollars for the cheapest 2GB card to 57 dollars for a 32GB card.
News Source (1up)