I'd be interested to know how much it slows down on big CMS sites, the code is botched together, but works and there is probably a much better way to do this. You can download the changed pisearch.module.php.zip for testing - I've not updated any of the version stuff or help - from the link.
http://www.cms.shoesforindustry.net/cmsmodules/search/
To test it try entering 'Test' in the search - the last one is news.
The options added to the results search tag are...
* callpath="news" - sets the text for the news from the root - should be 'news'.
* callpageid ="82" - sets the id of your main news page - mine is '82'
I keep meaning to write a new results template using un-ordered lists and some nice formatting, I'll get round to it one day

Enjoy,
Russ