What phone have you got? If it is a Nokia, then in theory it is possible to do this with
Gnokii and smsgui (I think I have a copy of this if you want it). There is also
zSMS for some Motorola and Ericsson phones.
The problem isn't going to be Bluetooth but the phone model support. All the SMS tools above let you specify a device to send the communications over. This is usually the IrDA device (/dev/ircomm), but this can easily be replaced by a BlueZ rfcomm device just like with the dialup hacking.