That was done quite some time ago and far more aggressively. Known as the Barnes QT cartridges which included a 150 gr .257 as I recall. Used a 1:5.5" twist.
I-phone short version: BC=SD/I I=form factor
For a given form BC is proportional to SD. For the same form and weight BC is inversely proportional to diameter. As I recall. I don't much care for I-phones and their BC sucks.