Query a Service Object Connected Smart Object For Report Builder

This is a neat idea, or maybe already a feature that I just can't seem to get working.  I've built a smart object with methods that query a dynamic web service service object.  I'd like to be able to query this smart object to provide real-time reporting (ever report request fires off a webmethod through the service object).  When I try using this smart object in the report designer, it gives me a "this data source is not configured to be used as a reporting data source" error.  Either I can't seem to locate the configuration change needed or this feature doesn't exist.  If the latter, please consider this as it could be a very useful feature.