Spike camera is a kind of neuromorphic camera with ultra-high temporal resolution, which can capture dynamic scenes by continuously firing spike signals. To capture color information, a color filter array (CFA) is employed on the sensor of the spike camera, resulting in Bayer-pattern spike streams. How to restore high-quality color images from the binary spike signals remains challenging. In this paper, we propose a motion-guided reconstruction method for spike cameras with CFA, utilizing color layout and estimated motion information. Specifically, we develop a joint motion estimation pipeline for the Bayer-pattern spike stream, exploiting the motion consistency of channels. We propose to estimate the missing pixels of each color channel according to temporally neighboring pixels of the corresponding color along the motion trajectory. As the spike signals are read out at discrete time points, there is quantization noise that impacts the image quality. Thus, we analyze the correlation of the noise in spatial and temporal domains and propose a self-supervised network utilizing a masked spike encoder to handle the noise. Experimental results on real-world captured Bayer-pattern spike streams show that our method can restore color images with better visual quality, compared with state-of-the-art methods. All the source codes and datasets will be publicly available.