We're actually in the final process of testing a single input, dual output serial splitter box. The problem with simply Y'ing the signal has to do with line loading. This can cause a significant voltage drop that will cause data errors or the devices will simply not see the data at all. Our box actually takes the serial data in and then routes it though IC's to output the signal at both ports in compliance with RS232 standards.
Also, on the single input port, we have provided a switchable +5VDC/Source Voltage jumper to route this voltage to pin 4 of the port. This will provide power to most of the "tracker" GPS receivers that require +5V on pin 4 to operate. We built this with APRS systems in mind. Plug a single display-less GPS into our splitter box, let the splitter power the GPS and then feed the two outputs to the systems that need NMEA. Great for setups using an APRS tracker AND a GPS enabled scanner, such as the Uniden BCT-996XT.
We expect to have this available for sale by the end of the month. It comes in a pre-milled ABS housing with mounting wings.