Parallax GPS in Smart Mode

Hi all,

Had anyone connect successfully the Parallax GPS on Arduino using Smart mode? This module has one pin for RX and TX simultaneously. Can I connect the same pin to arduino's pin 0 and 1? (I guess not, so am asking first just in case! :p) Do I have to use some IC in the middle to manage the INs/OUTs in a separate way?

Thanks! Gustavo.