Would Google Pay My SMS Bill?

I was thinking this morning how much I’d like to have all my text messages forwarded into the cloud, storing these conversations and allowing me to search against them much like Gmail does with email messages.

It also got me thinking that if Google picked up my tab for SMS ($5/mth) I’d gladly allow them to do what they wanted with the data and/or serve me ads.

I’d imagine that the social graph information in text messages is extremely valuable, especially since text messages are often at the top of people’s hierarchy for communications importance and tend to be very much real-time.

Does anyone already have such a service? The only thing I found on a very quick pass was an iPhone app called TreasureMyText.

Additional Thoughts?

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