I have written the following script for this. Update all the version numbers for the next update. Somehow I was too lazy to make this a variable. Downloads the Node TAR.GZ to the current folder and extracts, so put this in some extra folder such as "node_setup". And run the script with sudo.
#!/bin/bash
apt-get install build-essential g++ curl libssl-dev apache2-utils pkg-config
wget http://nodejs.org/dist/node-v0.4.5.tar.gz
gunzip node-v0.4.5.tar.gz
tar -xf node-v0.4.5.tar
cd node-v0.4.5
./configure
make
make install