It is part of the trunk; problem is that is under development and unstable versions of the code. It’s not recommended to run off the trunk version so I will let you find out where the BuddyPress SVN is and how to get the trunk version if you really want it.
Good news is, BuddyPress is due for v1.1 in a couple of weeks as far as I know, so you don’t have to wait long for the next stable, official release.
Thats great news! I guess i can wait for a stable version… Thanks!