Ok so one of my friends wants to ask me out!!!?

OK so I heard from one of my friends that one of our friends wants to ask me to banquet (I go to a Christian school and they don't really aprove of dances so this is like our prom). I'm really excited but he is one of my close friends and I don't want to wreck andything. Oh and I should mention that I'm a freshman and he's a senior!!!! I mean I think I'd say yes because it would be awesome and I wouldn't get to go unless I get asked by someone older but I just don't want it to be awkward. I mean we occionally flirt but it's just harmless fun, I think... Any body got any advice???? Oh and do you think he would be meaning it as a boyfriend girlfriend thing or as just friends??