Bill Clinton to Join Phi Beta Sigma?

According to some reports and updates from twitterland, it looks like Phi Beta Sigma fraternity is making former US President Bill Clinton an honorary member.

Image from http://ebonytucson.ning.com/group/phibetasigmafraternityinc

So what's the big deal if Bill Clinton is joining Phi Beta Sigma fraternity?

An Overview of Phi Beta Sigma

Phi Beta Sigma Fraternity, Incorporated was founded at Howard University in Washington, D.C., January 9, 1914, by three young African-American male students. The founders, Honorable A. Langston Taylor, Honorable Leonard F. Morse, and Honorable Charles I. Brown, wanted to organize a Greek letter fraternity that would truly exemplify the ideals of brotherhood, scholarship, and service. [Source]

I have just just checked the Phi Beta Sigma website and can't find confirmation. But if the reports were true, then Bill Clinton will be the first former President of the United States to become a member of historically African-American brotherhood.