I am not an expert in that field, but here is three way that I know.
Technique 1- Create a layer in Photoshop with your text.
- Apply one of the distort filters (Pinch and Spherize are the best) to make your text looks 3D.
- Adjust the settings until you get the correct shape, and move the layer over the original image.
Technique 2- Create a layer in Photoshop with your text.
- Use the Liquidify tool (Shift+Ctrl+X).
- Modify your text until you get the desired result. The Bloat tool and Pucker tool will be very useful.
- Move this layer over your original image.
Technique 3- I have never used this technique, but with Photoshop CS4 and greater I think, you have now the 3D menu that allows you to map a texture (your text) unto a 3D shape. Never played with it myself, but should do what you want.
Hope that it will help.