Yes I think there is.
1. Draw your two lines
2. Do a normal radius fillet (set to radius or length) with the tool selected to "Extend and cut" or "Extend, cut and delete".
3. Select the fillet arc and hit ⇧⌘H and then ⇧⌘V to flip it vertically and horizontally.
4. If you did "Extend and cut", you will need to remove the two cut lengths; if you did "Extend, cut and delete" it should in theory have deleted the two cut lengths but I've never been able to make that work very well – it doesn't seem to me that it deletes the logical bits! So I never use it.
I know it's still several steps – but it's very quick to do.
Actually it would be nice
to have a reverse fillet option – maybe holding down the ⌥ (option) key while you dragged for the fillet
Cheers -- George