How Handle Null Values(In Columns) In Telerik RadG

i have a BooundColumn in my telerik RadGrid like below :

                    <telerik:GridBoundColumn DataField="Status" FilterControlAltText="Filter Status column"
                        HeaderText="Status" SortExpression="Status" UniqueName="Status"
                        FilterImageToolTip="Filter">
                        <HeaderStyle HorizontalAlign="Center" VerticalAlign="Middle" />
                        <ItemStyle HorizontalAlign="Center" VerticalAlign="Middle" />
                    </telerik:GridBoundColumn>

Status Column in my sql server 2008 database can accept null values and RadGrid shows them with an empty string.
how can i replace these Empty Strings with a Colorable Strings?
mean replacement with something like this -> <span style='color: red;'>Empty</span> i know i can convert that BoundColumn to TemplateColumn like this :

                        <telerik:GridTemplateColumn FilterControlAltText="Filter TemplateColumn_Status column"
                            HeaderText="Status" UniqueName="TemplateColumn_Status" FilterImageToolTip="Filter"
                            ReadOnly="False" Visible="False">
                            <ItemTemplate>
                                <asp:Label ID="lblStatusInsideGrd" runat="server" Font-Size="11px" Text='<%# (bool)Convert.IsDBNull(Eval("Status")) ? "<span class=\"lblInsideGrd\">Empty</span>" : Eval("Status") %>'></asp:Label>
                            </ItemTemplate>
                            <HeaderStyle HorizontalAlign="Center" VerticalAlign="Middle" />
                            <ItemStyle HorizontalAlign="Center" VerticalAlign="Middle" />
                        </telerik:GridTemplateColumn>

this replacement is a good idea and works great. but by doing that i lose RadGrid Filering on this column.
would you please showe me another way with keeping RadGrid Friltering?

thanks in advance

You could do that on ItemDataBound event, when grid is binded to SqlDataSource as in your case you can get current DataRow :

Update: I leaved just code that works with DataRow, and fix column background setting

public void TestGrid_ItemDataBound(Object sender, Telerik.Web.UI.GridItemEventArgs e)
{
  if (e.Item is GridDataItem)
  {
    if (e.Item.DataItem is DataRowView)
    {
      GridDataItem gdItem = (GridDataItem)e.Item;
      DataRow rw = ((DataRowView)e.Item.DataItem).Row;
      if (rw.IsNull("Status"))
      {
        GridColumn urlColumn = TestGrid.MasterTableView.Columns.FindByUniqueName("Status");
        gdItem.Cells[urlColumn.OrderIndex].BackColor = Color.Red;
        gdItem["Status"].Text = "Empty";
      }
    }
  }
}

EDIT BY QUESTIONER
Really thanks for these codes.
the codes below are ok for me :

protected void grdSMS_ItemDataBound(object sender, GridItemEventArgs e)
{
    if (e.Item is GridDataItem)
    {
        GridDataItem item = (GridDataItem)e.Item;
        if (item["Status"].Text == "&nbsp;")
        {
            item["Status"].ForeColor = Color.Red;
            item["Status"].Text = "Empty";
        }
    }
}