Using SD shield for extra external memory?
There are different options:


SD shield: much memory (GB's), however keep in mind that it will take time to retrieve the data from the SD card. Also you can retrieve 512 bytes every time (which also means it costs 512 precious bytes of arduino SRAM).
External SRAM: There are external SRAM ICs, like 23LC1024 or 24K256. These are much faster and offer 128 or 32 KB. There are many others too, these are most 'common'. These are much faster than SD cards, you can get 1, 2 or more bytes per time. But it's not the same as Arduino SRAM, e.g. you cannot really store variables, so you have to copy data to internal SRAM to be used.


So first, check how much you need, and more important: what is the latency you can live with.