It depends on your OS version. Here's a reference chart:
* BlackBerry Device Software 4.2.0 Up to 2GB microSD
* BlackBerry Device Software 4.2.1 Up to 4GB microSDHC
* BlackBerry Device Software 4.2.2 Up to 4GB microSDHC
* BlackBerry Device Software 4.3.0 Up to 8GB microSDHC
* BlackBerry Device Software 4.5.0 Up to 8GB microSDHC
* BlackBerry Device Software 4.6.0 Up to 32GB microSDHC - for the Bold et al
* Verizon 4.2.2.196 OS supports up to 8GB source JeffH - thanks
For more details, see the microSD Cards link in my sig, from which I lifted the above table.