[stimpy01234]

I've currently got the account installed on my Galaxy Nexus, but my phone isn't always with in arms reach. Is it possible to install the Google Authenticator on more the one device, like the Nexus 7???

[still1]

Yes, its possible to install but not sure it will work properly.

there is now an internal clock syncing in GA. so Nexus 7 should sync properly.

[Anthimus]

Yes, but you have to set them up at the same time. I have it setup on both my Nexus 7 and my Galaxy Nexus. If memory serves me right, I had to do them both at the same time because when you first enable 2 step authentication you get the code to enter into the app. Just do them both at the same time using the same code and it should work just fine.

Since you already have it setup on your phone, you will likely have to remove 2 step authentication, then turn it back on and add both devices during the setup process.