Yossi,
I don't really understand your application or how critical the timing is. Different solutions apply depending on if you need to repeatedly switch back and forth between two images, or if the images are going to be changing, or if you just need to do it once.
Another possible approach is drawing the image to a hidden picture control, then turning it visible for a fixed amount of time. I've never tried it, but it seems like it would be fast. You could also move it offscreen while drawing, then move it onscreen for the proper amount of time.
Bruce
Bruce Ammons
Ammons Engineering