Thank you very much for the response!
The Cortex-M0 is supported in the current GNU binutils release. It will be supported in the next gcc release, which is gcc 4.5. gcc 4.4 has no explicit support for the Cortex-M0, but I expect that you can still compile code for it with the appropriate -march options.
Could you please conform, if I can use the gcc 4.5.x dev branch for ARM Cortex-M0 along with latest Binutils tools (ie 2.20.51 version)?
Thanks Swami