It is awesome that you are considering this. You must be a very caring, giving person to even consider. The ladies here have given you some wonderful advice. If you complete counseling, are in excellent physical condition and your doctor gives the go ahead, I think it is a wonderful thing to do. 38 is not too old. Look at all the celebrities having babies later in life.
However, be sure you can handle this emotionally. If you go through with this, it is probably the most emotionally and physically costly gift a woman can give to a friend. Make sure your husband is on board and realize that even if he is, he may show some resentment during the pregnancy when the reality hits home. Realize also, that it will probably affect your friendship with this couple. If is quite possible that as good a friends as you may be now, you may not see the child again. Your friend may have all kinds of confusing feelings about you and this herself.
Hope all goes well and whatever your decision, take care of yourself and your family.
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Marilyn  If anyone would like a free Bible Study CD or book entitled "Searching for Truth", PM me with your mailing address and I'll send you one. "And you shall know the truth and the truth shall set you free." John 8:32
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