If you insert an Active-X image control and position/size it where you want the picture to go, you could use a macro like:
Code:
Private Sub Image1_Click()
With Application.Dialogs(xlDialogInsertPicture)
If .Show = True Then
With Selection.ShapeRange
.Width = Image1.Width
.Height = Image1.Height
.Top = Image1.Top
.Left = Image1.Left
End With
End If
End With
End Sub