I was able to figure out how to accomplish this. Hopefully it will benefit someone else in the future.
First add an ole object to the report and select the file you want to use (in my test i used C:\mygif.gif) I had to make sure it was a GIF but not sure if that is needed. Make sure you check the link checkbox so if the file gets updated it will reflect on the report.
The code below takes SIG (the long binary data from the database) and saves it to mygif.gif.
mytest = "Select SIG from SIG where SIG.CN = 1001 and SIG.[IN] = 101 and SIG.FRM = 1 "
Dim myqbj As New Data.OleDb.OleDbCommand(mytest, objConn)
Dim myresultQry As Data.OleDb.OleDbDataReader = Myqbj.ExecuteReader()
If myresultQry.HasRows Then
myresultQry.Read()
Dim pictureData As Byte() = Nothing
pictureData = myresultQry.Item("SIG")
Dim fsr As IO.FileStream = New IO.FileStream("C:\mygif.gif", IO.FileMode.OpenOrCreate, IO.FileAccess.ReadWrite, IO.FileShare.ReadWrite)
fsr.Write(pictureData, 0, pictureData.Length)
fsr.Close()
End If