Yes it does, but it only supports 808.11b which is really slow by today's standards.
Instead, do a quick search on eBay for PCI Airport card - they go in the PCI slot, and because they use the Broadcom chipset they appear to OS X as a genuine Airport Extreme card. I don't think they're supported under OS 9 though so that may be a deal breaker depending on what you want to do with the machine.