If you get with her, and your friend has any dignity left, he'll probably cut the both of you off.
"Friendships" where the guy is attracted to the girl simply don't work. Imagine having something you want real bad, and then having it rubbed in your face day after day that you can't. It's consuming, and unhealthy.
If he does ditch you, it doesn' tmean he's jealous, or a jerk, or selfish, or that he doesn't want her to be happy. That kind of stuff hurts real bad...I can't think of anyone who would just stand around and take it.