Designers, please help! How do I combine a modern living room with a rustic rock fireplace?

The fireplace that came with this house will have to stay as I can't afford to tear it down and rebuild it. It is "overly" rustic with some rocks jutting out randomly and it's just not my style. If it weren't for the odd rocks jutting out, I could just cover it with drywall then tile around it. I want to update my living room with modern colors and furnishings but I don't want it to clash with the fireplace. Maybe I should go more for a transitional style instead? Designers or just people with a good sense of style, I need your suggestions. Please help!