Here is the link to the great post..
http://msdn.microsoft.com/en-us/library/cc627341.aspx
This article describes how to create a very simple Microsoft Silverlight Web Part in ASP.NET that hosts a canvas (XAML), which can have events mapped to ECMAScript (JScript, JavaScript). The Silverlight Web Part uses Microsoft Silverlight only on the client side, and is based on the Microsoft Silverlight 1.0 Runtime. You can then use the Silverlight Web Part in Microsoft Office SharePoint Server 2007 and Windows SharePoint Services 3.0 to display a canvas (XAML).