Photoshop is definitely the way to go, if available...
BUT...
You CAN fake it in a pinch, but you have to make sure it isn't over any "non-solid" background.
In other words, you can fake it as long as it is on solid white, black, etc., which is usually the case. You have to create a) the original picture box, b) a copy of that box, and c) a box that is composed of a linear blend from 0% opaque (that is, 100% transparent) to the same color as your background. Create the first box. Copy it and flip it vertically. Then apply a Gaussian blur to your satisfaction. Now adjust the transparency of the PICTURE (content) within the box. Next, resize the BOX (frame only) vertically until you get the "cropped" portion of the reflection. Now duplicate that box, set the content to none, apply the linear blend from transparent (top) to white (bottom) or the color of your page/background and then place this last box exactly on top of the reflection box you just created. This creates the "illusion" of a reflection using only QuarkXPress tools.
You can download a sample document (QuarkXPress 8) from www.coferhaagthrasher.com/downloads/fake_reflection.zip
Hope this helps...