Use ROUND(number , digits)
SELECT name, address1, address2, address3, city, state, zip, faxnum, phonenum, emailaddress,
ROUND(odbcadmin.fn_calDist(- 0.03715491813985, 0.9178158214586024, long * 0.0174532925, lat * 0.0174532925) ,2)
AS distances
FROM dbo.Customer
WHERE (ROUND(odbcadmin.fn_calDist(- 0.03715491813985, 0.9178158214586024, long * 0.0174532925, lat * 0.0174532925),2) <= 150)
ORDER BY distances`