the 701 is the same hardware (with a few alterations) as the Pandigital Novel, and both are the same as the Cruz Reader.
I know the last two use the same battery. I assume the IQ does as well.
You can buy replacement batteries thru Velocity Micro. Not sure if this will hold true in a year or two when the batteries die, but here's the link. Under 30 bucks:
http://www.velocitymicro.com/item.php?iid=4604