  Utilizing the Two Micron All Sky Survey (2MASS) Second Incremental Data
Release Catalog, we have retrieved near-IR magnitudes for several hundred hot
subdwarfs (sdO and sdB stars) drawn from the "Catalogue of Spectroscopically
Identified Hot Subdwarfs" (Kilkenny, Heber, & Drilling 1988, 1992). This sample
size greatly exceeds that of previous studies of hot subdwarfs. Examining 2MASS
photometry alone or in combination with visual photometry (Johnson BV or
Stromgren uvby) available in the literature, we show that it is possible to
identify hot subdwarf stars that exhibit atypically red IR colors that can be
attributed to the presence of an unresolved late type companion. Utilizing this
large sample, we attempt for the first time to define an approximately volume
limited sample of hot subdwarfs. We discuss the considerations, biases, and
difficulties in defining such a sample.
  We find that, of the hot subdwarfs in Kilkenny et al., about 40% in a
magnitude limited sample have colors that are consistent with the presence of
an unresolved late type companion. Binary stars are over-represented in a
magnitude limited sample. In an approximately volume limited sample the
fraction of composite-color binaries is about 30%.
