It would probably be best to keep it containerized out among your other plants. Your growing season may be too short to get it established and going, just to set it back by digging it up again

I want to keep it in a pot but I would like the pot to be in the ground just to get the natural look, but my concern is digging the pot back out and the root pruning that I would have to do, how do heliconia react to that?

It might not send down that many extraneous roots. Heliconia can be somewhat shallow rooting until a clump of rhizomes really gets well established. The bigger threat is that new shoots will push out of the holes of your pot (or bust out the sides) and when you go to dig it up you will be sacrificing canes. Maybe you could sink a larger diameter container, partially fill with soil, then put your container in THAT. Like, if your plant is in a 10 gal, sink a 20 or 30 gal shallow container (like a black 30 gal pond liner from Lowes) with holes in the bottom and plant your plant in it in the ground

Thanks bihai, on further reflection, I think your first suggestion is the best route to go.. I will just make it a pretty pot.