If memory serves, Ian Fleming was pondering on a name for his superspy when he saw the watermark on his typing paper - 'Basildon Bond' so he adopted the 'Bond' bit, and used James as the most anonymous Christian name he could think of. That's what i read, but as always, I am open to correction.
Actually james Bond is (or was, not sure if he is still with us) a writer of books about birds, the feathered variety. Ian Fleming stole his name because he liked it. Allegedly he met the man and apologised and said that when Mr Bond discovered a bird that was particularly ugly or had nasty habits, he could repay the compliment.
Woofgang is correct. When 007 is talking to the cigar merchant in his office, he picks up a book, written by one James Bond, and asks if he can borrow some binoculars. For a brief moment, the name of the author is visible. I think it talks about it in the Commentary on the DVD.