SVG is not part of the plan for IE7. This is definitely something we are looking at for a future release though.
I was hoping IE7 would support SVG now that Firefox 1.5 supports SVG with no plug-ins. SVG is a great format for web graphics, especially web logos. SVG files are text, therefore can be indexed by search bots. I just hope the IE team sees the need for SVG and
support it soon.