Hello,
Does MATLAB allow you to call an external program (an EXE) from within a MATLAB script? If so, then you can use the Application Builder in LabVIEW to build your VI into an EXE, then call that EXE from MATLAB. Similarly, if MATLAB allows you call shared libraries, you can build your VI into a shared library and call that from your MATLAB Script.
Of course, these suggestions require that you have the Application Builder for LabVIEW, and if you decide to build your VI into a shared library, you must have LabVIEW 6 or later.
I hope this suggestion helps. Have a pleasant day!
Sincerely,
Darren Nattinger
Applications Engineer
National Instruments