Minor correction: vsinstr.exe is a tool used to process binary code to cover code (or profiling). VSPerfMon.exe is a code coverage monitor that actually writes a binary .coverage file to disk.
Inside the IDE, in the Code Coverage Results tool window, you can click Export Results to export the coverage data in XML format:

VS2010 does not have a command line utility for dump.coverage files in XML, however you can use the code coverage API to do it yourself. See this blog post (and Peterβs blog as a whole ) and CoverageDS.ExportXml for this.
The coverage XML file contains summary data similar to what you see in the VS user interface. If you need more specific coverage information (for example, information about each block), you can use the code coverage API to get it.
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