sed s only on first matching line?

This seems like it sould be a faq, but i can't find an answer. Is
there a reasonably simple way to do a

sed 's/foo/bar/'

such that it only operates on the first matching line it finds and
then quits.

So the file:

bob
fred
foo
joe
jim
foo

would become

bob
fred
bar
joe
jim
foo


???


Thanks for any pointers.

.

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