Sorry mate, I can't say it's really a fair concept to have this on JSP, because no matter how good your intentions, it appears discriminatory to many people and, perhaps inadvertently, promotes a sense of religious inequality.
Considering practicalities, it is also not entirely viable. I suggest that you have a sticky that links to a site already hosting an interactive bible instead: Not only would it save on JSP's bandwidth, but it would also be much easier to do and wouldn't require any setting up whatsoever. Perhaps most importantly, you could dodge the whole JSP-endorsed-Bible-is-bad debacle simply and easily.
A quick google search has revealed this:
http://www.thewholebible.com/That's completely free financially and, from what I can see, completely free of adverts, too.
Perhaps try having a thread linking to that, or something? Or even make it as simple as PMing Christians you know a link such as this where they can save it as a favourite or bookmark it and whatnot.
I'm going to have to vote no, but I hope my post offers a preferable workaround for you.
exactly this.