Very new, interfacing with bluetooth phones?

a friend just gave me my first Arduino board, and I’m stoked about the possibilities these boards offer!

I saw there are also bluetooth boards available.

I was wondering (with out needing any actual example code) if this would be doable:
Is is possible to connect a BT board to a mobile phone, and then react to incoming text message?

It really depends upon the phone. I would say no for your average phone, but if it happens to be based on Windows Mobile, an iPhone (maybe, I think you have to get permission to add apps?), Android, or Palm, then you could potentially write an app for the phone that could react to a text message and send data via Serial BT to the Arduino.