You might need to create another table or something along those lines to help with this. Try splitting your table cell into 2 columns. Put your text in one of the new cells and put your ad box in the other column. That might help you.

Ok this is where my inexperience shows through. Isn't there any html code I could just put in there instead?

You must be looking for this:
<wraptext>Wrap this text around an image</wraptext>

It doesn't exist! Do a search for float text around image ad you'll see some examples of how it is done. Generally speaking, the method will require the use of CSS.

where is the pic in relation to the added text; upper left? right?
If I understand your question, selecting "format" and then "position", in FP, you can select one of the available wrapping/positioning styles. I didn't quite like what was available, so ended up using the following tag:
(in the image tag, you must specify if you want the img "center", "left", "right" etc)
<span class="text">put text here
close with </span>

I hope I explained that right