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To do it on the fly, you will need the .inc file's contents in a variable. Then you can use the replace() function.
var=replace(var,"replace-this","with-this")
I'm more a PHP guy, so forgive me if I'm off base here.
<%
Set fs=Server.CreateObject("Scripting.FileSystemObject")
Set f=fs.OpenTextFile(Server.MapPath("test.txt"), 1)
do while f.AtEndOfStream = false
Response.Write replace((f.ReadLine),"£","$")
Response.Write vbCrLf
loop
f.Close
Set f=Nothing
Set fs=Nothing
%>