I've always wondered how the site snag.gy does something similar. Take this link, for example (you'll have to disable AdBlock if you want to see the ad): http://i.snag.gy/0obAy.jpg (ignore the image itself; it was one of the first to pop up in my history)
The source is just the image, and you can embed the image, but there's an ad under the image. Also, right click -> view image or copy image location point to the same URL.