The Nook Color buy button on bn.com.

Looking to make the Nook Color a Valentine's Day gift Well, your present might not make it in time.

We noticed a small item on the Good E-reader blog that was hard to believe. Without citing a source, the blog claims Barnes & Noble is doing "major inventory" to see how many Nook Colors are in circulation and that the company has, "Quietly depleted all stock in their retail locations and either sent them all to the Nook headquarters in New York, or has not had further shipments fulfilled." The post adds: "This goes the same with other companies whom sell the color e-reader on their behalf."

Weird, right

Well, we went to check the Best Buy site and sure enough it said the Nook Color was "backordered." Then we went directly to Barnes & Noble's website and saw a little message on the "buy" button saying the Nook Color "ships in two weeks."

We're a little surprised Barnes & Noble would take as popular a device as the Nook Color out of stores leading up to a holiday like Valentine's Day, so we'll wait and see if the company has a little more to say about this in the coming days. Some people have reported that certain Barnes & Noble's stores still have some stock but most do not (let us know if any stores in your area have any' we don't want to spread false rumors).

Does this mean some sort of significant software upgrade is coming or is this truly just an inventory update We'll let you know as we get more information.