there is no easy way to do this, xml can have a very flat structure or be very nested and a datagrid is basically a flat data table.
So, depending on the structure, if it's pretty flat you may be able to use something like xpath to query some nodes and build a dataset object and bind that to the datagrid. Another way would be to use xpath and manually load the grid by hand, sounds like work but you only have to write it once but it does hard code for that particular xml schema.
Speaking of a schema, you could use xsd.exe to write classes for the xml objects, this can enable you to bind the objects to property grids say and perhaps the datagrid. This way you can query the xml objects like any other class in .net. You will need to create the schema first but xsd.exe can do that for you too.
F# has TypeProviders that do pretty much the same thing as xsd.exe but on the fly, very cool stuff there! I'd imagine you may be able to use these from vb.net with a bit of study.
Do you have a more concrete example of what you need to do?