http://brainafk.com/29159264

gistfile1.cs

var statusChanged = from sc in watcher.GetStatusChangedEventObservable()
                    select sc.EventArgs;

statusChanged.Subscribe(item => Deployment.Current.Dispatcher.BeginInvoke(() => {
    // update your status textblock
    TextBlock.Text = Enum.GetName(typeof(GeoPositionStatus), item.Status);

    if (item.Status == GeoPositionStatus.Ready)
    {
        // f.e. hide your loading bar
    }
    else
    {
        // f.e. show your loading bar
    }
}));