XAML ???

X A M L ??? (ZAMMEL) Yes, That's the correct spelling...

It extends for Extendsible Application Markup Language.
ZAMMEL is Xml based language to define object and their properties ...

It focused on UI for WPF/E (Windows Presentation Foundation/Everywhere)

You may check out Silverlight to begin with XAML.

Here is the Zammel Sample
<object>
<child property="x" property="y">
<child.property>
<class property="u" property="v"/>
</child.property>
</child>
<child>
</child>
</object>


Note:
* Xaml is different with WPF - Xaml is Xml based Markup
WPF is a graphics API

* XAML also supports things like 3D and controls, which SVG does not. It's different from SVG

* Saparate Design and Development