IFR corporate aircraft cleared for RNAV (GPS) Runway 19 at PVE; in IMC conditions; experienced NMAC with issued VFR traffic at 2200 feet; traffic observed on TCAD; but never visually sighted; evasive action taken to avoid traffic.

Narrative

I have been issued approach clearance for the RNAV LVP Approach to Runway 19 at PVE Beech River Regional airport. After crossing the initial approach fix or as I was crossing it the Controller issued a traffic advisory of a VFR aircraft just to the North of the intermediate fix. I saw him on TCAD and switched over to the CTAF frequency and advised him or her that I was on the approach and heading toward him. I received no reply; but the aircraft started turning toward me and climbing. I had told the Controller I would make a 360 degree turn to the right to give the other aircraft time to do something. He did it wrong he turned toward me after I had told him where I was. He may not have been on that frequency when I saw him turning toward me. I dove my aircraft sufficiently to have the TCAS start yelling sink rate. He passed directly overhead at somewhere between 50 to 100 FT above me. At that time I broke out of the clouds and visually recovered. I went around climbed back to altitude and rejoined the approach. I never saw the other aircraft visually. I told the Controller that I had been solid IMC through the entire avoidance until I broke out. The Controller was very helpful throughout.