Extended Deployment Pay Increase Act of 2004 - Entitles a member of the armed forces who completes a period of 180 days of continuous duty on deployment away from the member's permanent station (or home of record, in the case of a reserve member) to an increase in basic pay of $1,000 for each month thereafter during which the member continues such deployment. Provides for retroactive application of such entitlement for duty performed in connection with a deployment commenced or completed before the date of enactment of this Act.