How can you make an IM status with embedded (hidden) URL, such as you would using an HTML anchor?

I want my status to be a link, be underlined like a link, but the text I define so it’s not so messy such as text that says “Yahoo search, click here”, which represents the yahoo.com url.

all you need to do is…
Messenger > My Status > New Status Message

then add the text you wish to have over your link
e.g
WackyB http://www.wackyb.co.nz
click OK

then your status will show as WackyB but it will be an active link so whoever clicks on it will be redirected to the url you specified