Developed the code some more to determine which side and how far an object is. The green LEDs signify whether or not either side detects an object. The yellow LEDs signify which side the object is. Lastly the red LED indicates of the object is really close.
http://www.silabs.com/products/sensors/infraredsensors/Pages/Si1120.aspx
https://www.youtube.com/watch?v=H8Vxvr-sseY