Here is a link for the user guide which explains it well. The ISO image needs to be mounted from your client computer. All it allows you to do is mount your removable drive from the remtoe client computer to the target server which has the USB2 SIP  attached to it.

http://avctftp.com/dell/pdf/Remoteconsoleuserguide.pdf

 Check on page 135-137

Hello, maybe I am overlooking something but when I go to configure virtual media via the onboard web interface it is blank.  Is there some physical setup I am missing?  I don't quite understand where the media is mounted from. For example when I remote using RDP I can connect my local host drive so that the remote server has the mapped drive.  Also, I noticed when looking at Vmedia through the OSCAR utility that all the vmedia checkboxs are checked and greyed out.  I cannot uncheck them. Thanks

Do you have a USB2 SIP adapter? The regular USB SIP will not support virtual media. The easiest way to check if your adapter is a USB2 SIP is by either through the management panel of the web interface or through the OSCAR menu which will list the type of adapter. it should say USB2 next to the type. If you dont have a USB2 SIP the virtual media option will be grayed out.

Well that makes sense...  Probably should invest in new USB2 SIPs...  Thanks