Place the blueberries, sugar, and lemon juice in a saucepan. Bring to a boil over medium high heat.
Reduce heat to medium low and simmer for 10 minutes, stirring frequently. Remove from heat and stir in the vanilla.
Pour the blueberry compote into a container and refrigerate until ready to use.
To make the ice cream pour the cream into a large bowl. Beat on medium high speed until stiff peaks form.
Add in the sweetened condensed milk and vanilla. Beat for an additional minute on medium speed.
Pour half the ice cream mixture into a loaf pan. Place dollops of the blueberry compote on top of the mixture. Use a butter knife to swirl the blueberry into the ice cream.
Pour the remaining ice cream mixture on top of the blueberry compote. Place more dollops of blueberry compote on top and swirl with a butter knife.