We present HST WFPC2/PC images and KPNO 4-m longslit spectroscopy of the QSO SDSS J153636.22+044127.0, which we advanced as a candidate binary supermassive black hole. The images reveal a close companion coincident with the radio source identified by Wrobel & Laor (2009). It appears to be consistent with a M_g ~ -21.4 elliptical galaxy, if it is at the QSO redshift. The spectroscopy, however, shows no spatial offset of the red or blue Balmer line subcomponents. The companion is thus not the source of either the red or blue broad line systems; SDSS J153636.22+044127.0 cannot be explained as a chance superposition of objects, or as an ejected black hole. Over the Delta T=0.75 yr difference between the rest frame epochs of the present and SDSS spectroscopy, we find no velocity shift to within 40 km/s, nor any amplitude change in either broad line system. The lack of a shift can be admitted under the binary hypothesis if the implied radial velocity is a larger component of the full orbital velocity than was assumed in our earlier work. A strong test of the binary hypothesis requires yet longer temporal baselines. The lack of amplitude variations is unusual for the alternative explanation of this object as a double-peaked emitter; we further argue that SDSS J153636.22+044127.0 has unique spectral features that have no obvious analogue with other members of this class.
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