Read data from a SD card using an Altera Max II

Yes, I think the EPM240 will have enough logic for this. By removing much of the intelligence from the CPLD, more or less limiting it's function to the Physical layer (Phy) of the solution, you should end up with enough logic.

As for the interface, have a look at this web page: how to use mmc/sdc (http://elm-chan.org/docs/mmc/mmc_e.html). It covers the basics, everything you've suggested you need.

In considering your solution you will need to issue more than one command to the SD card - you can't 'just read' from it as soon as it's powered. You'll need to issue other commands prior to this. So, make sure your solution is flexible enough to allow you to issue different commands.

Cheers,

Alex