Mute on/off while on call?

[AC Question]

Is there anyway to turn mute on/off while on a call other than pulling the phone from your ear and pushing the mute icon? It's really annoying and distracting when on a conference call to have to pull the phone away from your ear to turn mute on/off to talk. My old phone allowed this functionality by just pushing one of the buttons on the side of the phone.