The first problem is finding some virola resin that has good 5-MeO-DMT content in the first place... Apparently a lot of what is sold commercially has very low alkaloid content.
If you do find, a simple A/B extraction like with DMT should work. Maybe dry-basifying resin, pulling with acetone and adding FASA could work, to get fumarates. So far there have been very few if any reports of 5-MeO extractions, so its hard to say. There was some time back where 69ron suggested maybe hydroxide bases could damage 5-MeO-DMT, but ron also made several other dubious claims, and I dont think there's any chemical reason for that. In any case you could try using a base such as sodium carbonate, specially if you do a dry pull.
As for solvents, most, if not all, solvents used for DMT should work. In literature, petroleum ether (equivalent to naphtha) is used for the final crystallization, so 5-MeO should be soluble in it, though not very much.