Additional BuddyPress Profile Privacy Settings

By default, it appears that BuddyPress profile settings have only 2 possible privacy settings–visible to everyone or visible only to logged in members. Is there a hack/plugin that will allow member to make their profiles visible only to BuddyPress “friends”?

Ideally, users should be able to set this privacy option individually (e.g., each member could choose their own setting). However, I’d settle for a hack that changes the behavior of the “only visible to logged in members” setting to “only visible to friends”. Any suggestions?