The geodesy group of University of Arizona has started a collaborative project with scientists in Iceland, USA, Japan, and Switzerland to install high rate GPS stations in Iceland (High-rate continuous GPS observations in Iceland). The project started in 2006 and already the number of continuous sites in Iceland has doubled from last year.
Current status of continous GPS network in Iceland
UofA Stations
A KML file of CHIL stations for Google Earth is available here: http://geodesy.geo.arizona.edu/media/download_gallery/CHIL_stations.kml
GPS stations installed 2006:
Hlíðarfjall HLFJ
Hveravellir HVEL
Lambafell LFEL
Búðarháls BUDH
Stóra Kjalalda STKA
GPS stations installed 2007:
Fitjarásar FITC
Kidagil KIDC
Haumyrar HAUC
Fjordungsalda FJOC
Timeseries
Iceland GPS links
High-rate continuous GPS observations in Iceland
Most recent updates can be found in the groups blog
IS GPS (Iceland continous GPS network)