You can just add a subview (a UIImageView) to the navaigationBar, which is just a UIView subclass.
UINavigationBar nb = [[UINavigationBar alloc]init];
[nb addSubview: foo];
[nb release];
Here's a forum post that describes how to wrap this up into a category: http://discussions.apple.com/thread.jspa?threadID=1649012&tstart=0