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I am not sure about the "temporary number" part, but basically you both should go to the Verizon store, and take care of it that way. Just remember, your friend "Owns" the account, so he can make changes to the account/lines at any time. As far as the cost, ritsbits is correct, it should be another account @ $9.99 plus taxes, and then any data plan charges, which would start @ $30.00 / 2 GB plan. Also, depending on his plan, if he has unlimited texting on all lines or not, he could charge you part of that also. Texting for all lines in the "Text and Talk 700: plan is $30.
