Having a teenager in the house has introduced me to the gibberish above, but I still have to look up some of the acronyms that they use like a second language. I wish French or Spanish came as easily to them as this language does! Here's a link to a website with some translations for those of us who don't speak the language.
SMS Lingo Dictionary
BTW (by the way), here is the translation of the above conversation.
Nothing much, you?
Hey, Do you have a boyfriend?
Why? You are so sexy!
Thx...where are you now?
At the mall...waiting for you.
Be right there...See you later!