Recent observations of GeV /TeV photon emission from several X-ray binaries have sparked a renewed interest in these objects as galactic particle accelerators. In spite of the available multi-wavelength data, their acceleration mechanisms are not determined, and the nature of the accelerated particles (hadrons or leptons) is unknown. While much evidence favors leptonic emission, it is very likely that a hadronic component is also accelerated in the jets of these binary systems. The observation of neutrino emission would be clear evidence for the presence of a hadronic component in the outflow of these sources. In this paper we look for periodic neutrino emission from binary systems. Such modulation, observed in the photon flux, would be caused by the geometry of these systems. The results of two searches are presented that differ in the treatment of the spectral shape and phase of the emission. The 'generic' search allows parameters to vary freely and best fit values, in a 'model-dependent' search, predictions are used to constrain these parameters. We use the IceCube data taken from May 31, 2007 to April 5, 2008 with its 22-string configuration, and from April 5, 2008 and May 20, 2009 with its 40-string configuration. For the generic search and the 40 string sample, we find that the most significant source in the catalog of 7 binary stars is Cygnus X-3 with a 1.8% probability after trials (2.10" sigma one-sided) of being produced by statistical fluctuations of the background. The model-dependent method tested a range of system geometries - the inclination and the massive star's disk size - for LS I+61 deg 303, no significant excess was found
