sorry to be late in getting back to you. If the holes are appx. 1/16" in diameter, the bugs you have are Lyctid beetles otherwise know as powder post beetles. There are two types, dry wood as you have and wet wood that are the Anobid variety. Either way, putting the wood in a house will infect it, so kiling them is imperative.
Just as Woodbutcher recommended, microwaving will kill them as long as the wood will fit. You can also put it in a black plastic garbage bag and lay it in the sun, or make a rack over a wood stove. In any case, the wood has to get to 135 to 160 degrees for approximatley 24 hours to kill them, the larvea and/or eggs.
I have piles of infected lumber from our sawmill days, and there is not an effective insecticide that you can apply after the fact that will get them all, but an exterminator can tent the pile and gas the heck our of them. Then, work quick because the little buggers will come back.