Removing the black alpha channel in Cycles textured view (like in blender internal)

(This is my first post here, so bear with me)

I want to see if there’s a way I can see transparency in textured view in the 3D viewport like how it is in blender internal. I know I can just use material view, but I like to use textured because it seems to have the best balance between performance and quality in the viewport.

Basically I want this:

to look like this:

to where I can see the green cube inside.

play around with alpha value in the material settings and change it to 0

I’ve tried messing with that, but it only seems to make a difference in material view, I’ve even tried all of the “viewport alpha” options underneath it, no luck.