Create a class which holds the two properties as you mentioned like
class ComboData
{
string Text;
string Value;
}
In your ViewModel,
create a collection like
Public ObservableCollection<combodata> ComboColl = new ObservableCollection<combodata>;
</combodata></combodata>
Add data to this collection
ComboColl.Add(new ComboData(){ Text="US",Value="US"});
In youe xaml page,
define a template to hold the two text values like
<datatemplate x:key="ComboTemplate" xmlns:x="#unknown">
<stackpanel orientation="Horizontal">
<textblock text="{Binding Text}" />
<textblock text="{Binding Value}" />
</stackpanel>
</datatemplate>
Assign this template to combobox like ItemTemplate="{StaticResource ComboTemplate}"
and set the datacontext of the combobox to the Viewmodel object.
Hope this helps...