You're welcome.
I'm not sure you can do that with qrencode. But if you want to embed a QR code into another image, any photo editing program will do. qrencode follows the philosophy of Unix very well. Write your programs so that it does one thing and does it very well. So I don't think it will embed another image in the QR Code, but it will make a great QR Code.
RE: A Linux Guide to Quick Response Codes and vCards