This page is a front end to transformation tools that convert SVG diagrams into various formats using XSLT. The tools are definitely a work in progress, and have not had more than half a day of effort put into them in total, but the initial results are very promising.
Give it a try! Submit the link to your favourite SVG image and see what comes out. You can also take a look at the stylesheets and suggest improvements.
These tools could be used to allow search engines to easily index the text within SVG files. In fact, what is amazing is that you don't need XSLT to extract all the text from an SVG document - you can just ignore all the markup and you get the text (as demonstrated by the example empty stylesheet below).
Many thanks to Masayasu Ishikawa for providing bug fixes (the details of which are too embarrassing for me to mention :).