My elderly neighbor had a stroke and wants me to adopt her 7 year old cat,as she will be in a nursing home ..?

...for some time,maybe always.
I am not sure that I can do this,as I have a 9 month old Lab puppy.
My pup goes nuts over squirrels,etc...how tough would it be to keep him semi-calm if I bring this cat into our home?And would the cat be terrified?
It is sad--she is improving slowly,thankfully.

View this post on my blog: http://travelnursesuccess.com/my-elderly-neighbor-had-a-stroke-and-wants-me-to-adopt-her-7-year-old-catas-she-will-be-in-a-nursing-home