Try using ImageSpan object, creating it with the result bitmap and attaching it to the relevant part of text in edit box. Something like this:
public class TestActivity extends Activity {
@Override
public void onCreate(Bundle savedInstanceState) {
super.onCreate(savedInstanceState);
setContentView(R.layout.main);
TextView textView = (TextView) findViewById(R.id.textview);
SpannableString ss = new SpannableString("abc");
Drawable d = getResources().getDrawable(R.drawable.icon32);
d.setBounds(0, 0, d.getIntrinsicWidth(), d.getIntrinsicHeight());
ImageSpan span = new ImageSpan(d, ImageSpan.ALIGN_BASELINE);
ss.setSpan(span, 0, 3, Spannable.SPAN_INCLUSIVE_EXCLUSIVE);
textView.setText(ss);
}