This is a solution with T-SQL:
Credits to: https://stackoverflow.com/a/32231832/5089204
DECLARE @x XML='<root><Test name="checkTest">TestValue</Test></root>';
SELECT @x;
--This is the XML string in base64
DECLARE @xBase64 VARCHAR(MAX)='PHJvb3Q+DQogIDxUZXN0IG5hbWU9ImNoZWNrVGVzdCI+VGVzdFZhbHVlPC9UZXN0Pg0KPC9yb290Pg==';
CREATE TABLE #testBase64(ID INT, SomeBLOB VARBINARY(MAX));
INSERT INTO #testBase64 VALUES(1,CAST(@xBase64 AS VARBINARY(MAX)));
SELECT ID
,SomeBLOB AS TheBLOB_as_HexString
,CAST(SomeBLOB AS VARCHAR(MAX)) AS TheBLOB_back_to_Base64
--taken from here: https://stackoverflow.com/a/32231832/5089204
,CAST(CAST(CAST(CAST(SomeBLOB AS VARCHAR(MAX)) AS XML).value('.','varbinary(max)') AS VARCHAR(MAX)) AS XML) AS Back_to_XML
FROM #testBase64;
DROP TABLE #testBase64;
/*
The results
Hex-String: 0x50484A766233512B44516F67494478555A584E304947356862575539496D4E6F5A574E725647567A6443492B5647567A64465A686248566C504339555A584E305067304B504339796232393050673D3D
Base64: PHJvb3Q+DQogIDxUZXN0IG5hbWU9ImNoZWNrVGVzdCI+VGVzdFZhbHVlPC9UZXN0Pg0KPC9yb290Pg==
XML again: <root><Test name="checkTest">TestValue</Test></root>
*/