Text formatting inside formula

It'd be great to have the ability to underline or bold text inside a formula, specifically for my current use inside an if statement.

Something like $if(condition, [u]Text[/u], Text)$

You can do this already just use the quotes, so $if(condition, "[u]Text[/u]", Text)$ will work properly

Thanks, Frank. Now I've just had another idea.

What if I want to do this: $if(condition, [u]df(hh)[/u], df(hh))$

Please can anybody confirm if this will work.ie to bold formula of a specific text

I've tried doing what you outline, but using a date function instead of text, and the function is returned underlined, not the value.

$if(condition, "[u]"+df(hh)+"[/u]", df(hh))$ works