I started playing with this idea last night, adding it into BBlight. It seems to be working for incoming SMS and incoming email to the default inbox. I am testing a version now, that will hopefully catch email to all inboxes (such as multiple email accounts that are set up on a BIS).

I have implemented SMS watching through datagram/connector.open and email watching through a folder listener. There are check boxes in the BBlight preferences to turn SMS and email watching on/off.

I will hopefully have a test version available later today.