Is there an API in the iOS SDK that deals with text messaging?
MessageUI.framework is what you are looking for.
You can use MFMessageComposeViewController to show system composer for sms.
The MFMessageComposeViewController class presents a standard system interface for composing SMS text messages. You use this class to configure the initial recipients and body of the message and to configure a delegate to respond to the final result.
Yes:
However, as stated in the iOS documentation:
Important: If an iOS-based device is not configured to send a given type of message, you should avoid displaying the corresponding composition interface. The view controllers in this framework provide methods for determining if support is available for a given message type.
MessageUI.framework will work, and give you SMS and Email message capabilities
BUT
Note that this only works in iOS 4.0. Which means it will not work (currently) on the iPad.