I'm home from school for the summer, and I'm doing a stealth grow in my closet. It's definitely possible, but I'd dedicate some serious thought to how you plan not to get caught. If I stuck a weed plant in the corner of my room, it would be noticed. Definitely apply some tact, and as pessimistic as it is, give some thought to what will happen if you're found. If your parents would flip their brains, you might want to try a closet, or failing that, a contained grow in a piece of furniture or something. If you use CFL's, you can keep plants pretty compact, so see where you could get them stowed out of sight.
As for smell... That honky will reek to high heaven of skunk unless you get or make a filter, especially during flower stage. It's not even funny how much they smell while flowering. If your parents don't recognize the smell, you might be able to pass it off as a faint, mysterious skunky smell while you're vegging, but in flower, it'll get to be a problem.
Also, don't underestimate how much light you'll need. That was a big mistake I made in my early experiments. Your good friend will want at least 18 hours of very good light, so since the sun probably won't give you 18 hours, plan to either alternate sun with lights, or just go 100% electric lighting. I'd recommend getting about two or three CFL's with as high a wattage as you feel like affording. Three 42 watters would give you good coverage and plenty of light for one plant, and shouldn't run you too much, maybe $20-30 total depending on your store.
I'd recommend looking around a bit for some compact stealth grow setups, there are lots of guys on here with some very tidy little arrangements. Anyway, welcome aboard, absolute best of luck, don't be too serious with your first grow, and cheers!