I pick this up from the announcement of Xara Designer 8.
This is a great feature but I don't know if this is compatible with svg. Freehand had it already a long time ago, and DTP programs like QuarkXPress also (but the later can also embed bitmap images on text lines, which is a must !)
" Designer MX now allows you to embed 'inline graphics' in text using a simple Paste operation. Embedded graphics are great for really small items on the line such as symbols, icons etc, and are treated just like a 'character', in other words they flow and follow the same formatting rules as a character embedded in the text. "