From the listings on http://www.racefantv.com/USTV.htm

FRIDAY, MAY 27
...
11:00A-4:00P VS IZOD IndyCar Series CARB DAY, Indianapolis 500 (+ Indy Lights Firestone Freedom 100), Indianapolis Motor Speedway, HD, L

If so, does anyone know what time the actual race starts?

http://www.indycar.com:8080/var/assets/indyweek2.pdf


Looks like 12:30 is the start time for the Freedom 100.

Tim Wolffrum aka Cowboy

Yes, this is the race Bryan is in.