Yes, the solution you are looking for can be found in "Mathematica Link for LabVIEW" from BetterVIEW Consulting. (www.bettervi.com)
This toolkit includes a library of VIs that allow you to send Mathematica scripts to Wolfram's MathKernel. It also includes tools that enable you to interactively call VIs from the a Mathematica notebook -- ideal for batch testing, running a series of experiments, generating automated reports using the Mathematica's notebook metaphor.
Once a link between Mathematica and LabVIEW has been established, scripts, data, and parameters in a wide variety of formats can be passed bi-directionally over the Link.
For more information and the "Mathematica Link for LabVIEW White Paper", visit http://www.bettervi.com/mlink/