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> MCF52277x
I assume you mean MCF5227x.
The MCF52277 is not a good choice if you want network connectivity. It doesn't have an internet Ethernet controller. With a better choice of CPU, all you need for WiFi is a cheap external WiFi hub. Any old obsolete ADSL WiFi box can do that.
Lots of embedded boards claiming do do this as well, like these:
Ethernet Wifi Module, Ethernet Wifi Module Suppliers and Manufacturers at Alibaba.com
The MCF52277 does have USB, and USB-to-WiFi adapters are less than $10. But they would only work when plugged into a Windows PC. Some of them may work on Linux. It is unlikely you could get them to work on an embedded system.
Many of the above listed boards are "Serial to WiFi". That means they might be a "WiFi Serial Modem". They may convert a serial port data stream into a Telnet connection to a preconfigured host machine.
You haven't said what you need the WiFi connectivity for. Is the CPU to be a Server or a Client? General purpose (web and so on) or single purpose? That makes a difference to the possible solutions.
I'd recommend you use a different chip, and a different family as well. You shouldn't start a project using ColdFire now - use Kinetis or an ARM-based solution instead.
Tom