You may benefit from installing a Murphy Bed. This is a full size bed that folds up against the wall when not in use. The only thing is that every night, you must clear the space on the floor to fit the footprint of the bed when it is pulled down. Then, reverse the procedure in the morning. That would wear on me, day after day, after day.
A pullout mattress in a sofa creates the same daily task of moving everything so the mattress can be pulled out. However, the mattresses on pull out couches are not all that good for your sleeping health. If a mattress can be folded in three, it cannot really have the support one needs for an acheless sleep. Sofa beds are good for company because you can really only sleep on them for a few days because they are not all that comfortable. There are good ones out there, but they cost in upwards of three thousand dollars.
Then, there is the futon. The bottom end type of bedding alternative. I do not recommend that option.
There are bed couches that have side arms and the back that fold open for sleeping. But, long term, that is not so good for the body either. And, sleeping for two is not going to make your bedmate happy.
Instead, consider a daybed with a trundle. A day bed is the size of a twin mattress (39" wide and 79" long). It typically has three sides. Due to it's 39" width, you will need bolster wedge pillows and other pillows to use it as a couch by day. The trundle part of the bed is another twin size mattress that is under the daybed on a mechanism that pulls out and up to create a king size bed (approx. 80" wide by 79" long).
So do your research and look at Murphy Beds, Day Beds, Trundle Day Beds.
The ladies will not mind spending the night if they have a proper bed to sleep.