First implementation.

Simplest form I could find, but not all forms of invocation work.

.gitignore

+hello
+hello.uu
+bundle
+output

.travis.yml

+---
+language: c
+dist: trusty
+sudo: false
+group: beta
+
+addons:
+  apt:
+    packages:
+      - sharutils
+
+script:
+  - bats .
+
+notifications:
+  email: false
+  on_failure: never

LICENSE.txt

+MIT License
+
+Copyright (c) 2017 Adar Nimrod
+
+Permission is hereby granted, free of charge, to any person obtaining a copy
+of this software and associated documentation files (the "Software"), to deal
+in the Software without restriction, including without limitation the rights
+to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+copies of the Software, and to permit persons to whom the Software is
+furnished to do so, subject to the following conditions:
+
+The above copyright notice and this permission notice shall be included in all
+copies or substantial portions of the Software.
+
+THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
+AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE
+SOFTWARE.

Makefile

+bundle: hello.uu shellscript
+	cat shellscript hello.uu > bundle
+	chmod 755 bundle
+
+hello.uu: hello
+	uuencode hello output > hello.uu
+
+hello: hello.c
+	gcc -o hello hello.c

README.md

+# Bundle
+
+[![Build Status](https://travis-ci.org/adarnimrod/bundle.svg?branch=master)](https://travis-ci.org/adarnimrod/bundle)
+
+> Bundle a binary file into a shell script.
+
+This a proof of concept on how to create a shell script that contains a binary
+file for easy installtion.
+
+## License
+
+This software is licensed under the MIT license (see `LICENSE.txt`).
+
+## Author Information
+
+Nimrod Adar, [contact me](mailto:nimrod@shore.co.il) or visit my [website](
+https://www.shore.co.il/). Patches are welcome via [`git send-email`](
+http://git-scm.com/book/en/v2/Git-Commands-Email). The repository is located
+at: <https://www.shore.co.il/git/>.

hello.c

+#include <stdio.h>
+
+int main(void) {
+    printf("Hello world.\n");
+    return 0;
+}

shellscript

+#!/bin/sh
+set -eu
+uudecode "$0"
+./output
+exit

test.bats

+#!/usr/bin/env bats
+
+setup () {
+    git clean -fdX
+    make bundle
+}
+
+@test './bundle' {
+    run ./bundle
+    [ "$output" = "Hello world." ]
+    [ "$status" -eq 0 ]
+}
+
+@test 'sh bundle' {
+    run sh bundle
+    [ "$output" = "Hello world." ]
+    [ "$status" -eq 0 ]
+}
+
+@test 'cat bundle | sh' {
+    skip "This will fail"
+    run sh -c 'cat bundle | sh'
+    [ "$output" = "Hello world." ]
+    [ "$status" -eq 0 ]
+}