Membersheep is right: there's nothing like that built in; you'd have to manually override the "hitTest" method of SPImage and check the color of the texture at that position.
The problem: you can't access a texture like that in OpenGL. So you'd have to get to the transparency information in a separate step, e.g. by looking directly at the bitmap the texture was made from.
Yes, it *is* tricky. 😐