Yes, @DrAzzy is spot on with this. It should do what you want.
Espruino is designed to be a lot like Node.js - for simple things the code you write is basically identical - for example http://www.espruino.com/Internet.
The price for this should be pretty reasonable. I won't be certain until I find out how much the manufacturer will charge, but I think it'll be around the $30 mark. It's obviously more than just buying a single ESP8266 module - but then you're paying for me to help people out on the forums and make fixes/improvements :)
If you want 'full' nodejs you're best off with a full Linux-based board. Something like Beaglebone I'd guess? But if you do that you'll have to worry about Linux as well as Node.js, and you'll definitely have to power it from the mains!
As @DrAzzy says, there's also running Espruino on ESP8266 itself. That will be very cheap, and will work for small things - however it's not something I personally offer any support for as I just can't afford to.
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