The guys from the Silverlight team announce that
Silverlight Media Framework 2.2 is now available and includes full support for
Windows Phone 7.
Source: Silverlight Team Blog
The open source Silverlight Media Framework (SMF) enables developers to quickly deploy a robust, scalable, customizable player for IIS Smooth Streaming delivery. The SMF builds on the core functionality of the Smooth Streaming Client and adds a large number of additional features, including an extensibility API that allows developers to create plugins for the framework.