Thanks ragulduy. I get a #N/A error but that's probably because I've set up my ranges/counter wrong. What I would like to do is vlookup Sheet1!A1:A5 (I've changed SrcRange to A1:B5) with Sheet2!A1:B5 and put the values in Sheet1!B1:B5. As I've set it up, I'm doing a vlookup of the counter itself ?

Dim SrcRange As Range
Dim LkRange As Range
Dim x As Long


Set SrcRange = Sheets(1).Range("A1:B5")
Set LkRange = Sheets(2).Range("A1:B5")

For x = 1 To SrcRange.Cells.Count
    SrcRange.Cells(x).Formula = "=VLOOKUP(" & x & "," & LkRange.address & ",2,0)"
Next