As Far as i've been able to find, there is no Microsoft Reader for the Palm OS and MS has no planes to release one.
The best option would probably be for you or your son to convert the files into another format. Which format you choose to convert it to will decide which program you can use.
Lit files can be converted to HTML pretty easily and they you can either read the html directly on your palm, or convert it to something like mobipocket for ease of use.
There are a number of programs available for such reading and the member's here will be glad to suggest some.
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