Sounds like it might be a slow leak in the hoses or airbag in the system, it takes a while before the compressor can recover from a leakdown. The cost depends on what is actually wrong.
My compressor went on my envoy as well. It was determined that the unit basically corroded and needed to be replaced. I'll assume you live in a northern climate as well. After getting the price for a new compressor from GM (astronomical) I went and purchased an after market unit and had it installed. Only drawback is that I have to inflate the airbags manually instead of the sensor inflating it. Bonus was that I saved about six hundred dollars going this route.
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