Well if he likes you, I'd say go for it, if she's really your friend, then she would be happy for you. Hurt of course, but that's just how some things happen. You shouldn't pass up the opportunity just cuz your friend likes him also.. unless he likes your friend instead of you, but since that's not the case...
and if u really wanna think about it more... here's a question : which do you value more, your friendship with your friend, or having a boyfriend that probably might not last? the choice is up to you.
sorry if im blunt.. i get this a lot with friends
good luck anyways !!