Separate Blog Tab on BP Themes

This is probably not a theme issue, directly, but I'll ask anyway. With the BuddyPress themes, it seems a lot more appropriate to have a separate 'Blog' tab since the home page doesn't really show the entire list of primary blog posts in a timeline.

What do I need to do to create a 'Blog' tab in a BP theme and what are the implications? (I presume that it will ad a directory to the URL, e.g. site.com/blog/post/ causing SEO issues, but I'm not too concerned with that right now as I can set the redirects.)