Panel containing PictureBox flickers on background change. How can I eliminate this?

I have a panel with the BackgroundImage set that I'm using as a button. The panel also contains a PictureBox with a png image loaded so that parts of the image are transparent and the panel image shows through. On MouseDown I change the panels BackgroundImage, then on MouseUp I change it back again. The problem is that when the panel image changes, the PictureBox开发者_高级运维 flickers badly when redrawing its transparent areas.

I've tried using the DoubleBuffered property of the form its on; no luck there. I've also tried SuspendLayout just before changing the image, refreshing the PictureBox, then ResumeLayout. Still no luck.

Thanks in advance for any ideas.

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It's the bad part of VS in graphic. Try using Form BackgroundImage property, or overrides OnPaint event and use Graphics class to draw the image manually (draw on the Form).