Well, seems that I got it working... Did a Google search on "XHTML Flash Valid" without the quotes and found my answer:
Code:
<object type="application/x-shockwave-flash" data="logo.swf" width="415" height="45">
<param name="movie" value="logo.swf" />
<param name="quality" value="high" />
</object>
The above code seems to validate as XHTML 1.0 Transitional!
